Guideline Value for CHAKARAVARTHY NAGAR (N)

Chakaravarthy Nagar (N) guideline value

The current guideline value of Chakaravarthy Nagar (N) is Rs 661 per sq.ft, effective from 1 July 2024. This area is located in Peramanoor village under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

How the guideline value of Chakaravarthy Nagar (N) has changed

Over the years, the guideline value of Chakaravarthy Nagar (N) has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 600 per sq.ft again, followed by a further increase to Rs 661 per sq.ft in the 2024 revision, reflecting a 10% rise.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, and Chakaravarthy Nagar (N) is below this median.

• Caldwell Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Chelliyamman Kovil Street(Kr): Rs 661 per sq.ft (2024)
• B R Nagar (Sa): Rs 550 per sq.ft (2024)
• Cheran Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Boothapandian Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Blue Chip Residency (Kr): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Chakaravarthy Nagar (N)

For a 1,000 sq.ft plot at the current guideline value of Rs 661 per sq.ft, the total guideline value would be Rs 6,61,000. The stamp duty at 7% would amount to Rs 46,270, and the registration fee at 2% would be Rs 13,220, bringing the total fees to Rs 59,490. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chakaravarthy Nagar (N)?

The Sub Registrar Office that covers Chakaravarthy Nagar (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Peramanoor

The guideline value plays a crucial role in the registration process when buying or selling property in Peramanoor. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are fairly assessed according to the established guidelines.

Frequently asked questions

What is the current guideline value of Chakaravarthy Nagar (N)?

The current guideline value of Chakaravarthy Nagar (N) is Rs 661 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 661 per sq.ft in 2024.

What is the land classification of Chakaravarthy Nagar (N)?

Chakaravarthy Nagar (N) is classified as Residential Class I Type - III.

What are the guideline values of other streets in Peramanoor?

Other streets in Peramanoor have varying guideline values, with rates ranging from Rs 550 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, making Chakaravarthy Nagar (N) below this median.

Where is the Sub Registrar Office for Chakaravarthy Nagar (N) located?

The Sub Registrar Office for Chakaravarthy Nagar (N) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengalpattu registration zone.