Guideline Value for CHAKRAPANI STREET

Chakrapani Street guideline value

The current guideline value of Chakrapani Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO and is classified as Residential Special Type - II.

How the guideline value of Chakrapani Street has changed

The guideline value for Chakrapani Street has undergone several revisions over the years. In 2003, the guideline value was Rs 1,245 per sq.ft, which increased significantly to Rs 3,790 per sq.ft in 2007. Following this, the value rose to Rs 6,500 per sq.ft in 2012, but then saw a decrease to Rs 4,355 per sq.ft in 2017. The value rebounded to Rs 6,500 per sq.ft in 2023, before reaching the current figure of Rs 7,100 per sq.ft in 2024. The register has no figure for this street for the year 2002.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects a 9% rise. Notably, the overall increase from 2003 to 2024 is a substantial 470%, marking significant growth over the years.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Chakrapani Street's 2024 figure above this median.

• Chakrapani Street Extension: Rs 7,100 per sq.ft (2024)
• Central Avenue: Rs 7,700 per sq.ft (2024)
• Cental School Street (Gill Nagar): Rs 7,100 per sq.ft (2024)
• Budha Street: Rs 7,100 per sq.ft (2024)
• BRINDAVAN STREET (West Mambalam): Rs 8,200 per sq.ft (2024)
• BRINDAVAN EXTENSION (West Mambalam): Rs 8,000 per sq.ft (2024)

Stamp duty and registration fee for property in Chakrapani Street

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chakrapani Street?

The Sub Registrar Office that covers Chakrapani Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately assess the costs involved in property transactions.

When registering a property, the guideline value is typically used as a benchmark for calculating various fees, ensuring that the transaction is recorded at a value that reflects the local market conditions as per the government’s assessment.

Frequently asked questions

What is the current guideline value of Chakrapani Street?

The current guideline value of Chakrapani Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 1,245 per sq.ft in 2003 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 470% over these years.

What is the land classification for Chakrapani Street?

Chakrapani Street is classified as Residential Special Type - II under the Kodambakkam SRO.

What is the registration office for Chakrapani Street?

The registration office for Chakrapani Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Chakrapani Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 71,00,000 would incur a stamp duty of Rs 4,97,000 at 7%.