Guideline Value for CHAKARAVARTHY NAGAR (N)

Chakaravarthy Nagar (N) guideline value

The current guideline value of Chakaravarthy Nagar (N) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

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

The guideline value for Chakaravarthy Nagar (N) has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. The value then increased to Rs 600 per sq.ft in 2023, and most recently, it has risen to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

Between 2017 and 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Chakaravarthy Nagar (N) below this median with its 2024 figure of Rs 660 per sq.ft.

• Caldwell Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Chelliyamman Kovil Street(Kr): Rs 660 per sq.ft (2024)
• B R Nagar (Sa): Rs 660 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 rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our 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 additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Sattamangalam. It serves as a basis for calculating stamp duty and registration fees, ensuring that these costs are fairly applied based on the property’s assessed value.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly affect the overall transaction costs. Buyers should ensure that they are prepared for these additional expenses when planning their purchase.

Frequently asked questions

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

The current guideline value of Chakaravarthy Nagar (N) is Rs 660 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 to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

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

The land classification for Chakaravarthy Nagar (N) is Residential Class I Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Chakaravarthy Nagar (N)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty and registration fee of Rs 59,400.