Guideline Value for CHAKRAMANGALA NAGAR

Chakramangala Nagar guideline value

The current guideline value of Chakramangala Nagar is Rs 2,740 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class I Type - I.

How the guideline value of Chakramangala Nagar has changed

The guideline value for Chakramangala Nagar has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then rose sharply to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,740 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 357%. Notably, the increase from 2023 to 2024 is 10%, while the jump from 2017 to 2023 is 49%. The value saw a dramatic rise of 317% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value for the area is Rs 2,200 per sq.ft, placing Chakramangala Nagar's 2024 figure above this median.

• Bye pass road: Rs 3,520 per sq.ft (2024)
• B.V.R.Nagar: Rs 2,200 per sq.ft (2024)
• Bunkingham road: Rs 2,200 per sq.ft (2024)
• Chetti street: Rs 3,250 per sq.ft (2024)
• Bradees street: Rs 2,740 per sq.ft (2024)
• Chinnamasudhi street: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Chakramangala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value amounts to Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, totaling Rs 2,46,600. 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 Chakramangala Nagar?

The Sub Registrar Office that covers Chakramangala Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Poonthamallee. It determines the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally recorded and recognized.

When a property is sold, the guideline value helps establish a baseline for the sale price, ensuring that the transaction reflects the prevailing market conditions as determined by the government. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Chakramangala Nagar?

The current guideline value of Chakramangala Nagar is Rs 2,740 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 2007 to Rs 2,740 per sq.ft in 2024, reflecting a significant overall increase of 357% over this period.

What is the median guideline value in Poonthamallee?

The median guideline value for Poonthamallee is Rs 2,200 per sq.ft, with Chakramangala Nagar's value being above this median.

What are the stamp duty and registration fees for a property in Chakramangala Nagar?

For a property valued at Rs 27,40,000, the stamp duty would be Rs 1,91,800 and the registration fee would be Rs 54,800, totaling Rs 2,46,600.

Where is the Sub Registrar Office for Chakramangala Nagar located?

The Sub Registrar Office for Chakramangala Nagar is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.