Guideline Value for CHAKRAVARTHY NAGAR

Chakravarthy Nagar guideline value

The current guideline value of Chakravarthy Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This locality is situated in Siruvanchur village, under the jurisdiction of the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Chakravarthy Nagar has changed

In the 2012 revision, the guideline value was Rs 400 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft. The value then increased significantly to Rs 400 per sq.ft in the 2023 revision. The 2024 revision also maintains the value at Rs 400 per sq.ft, resulting in no percentage change from 2023 to 2024.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Siruvanchur

In Siruvanchur, there are 8 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 400 per sq.ft, with a median of Rs 400 per sq.ft. Chakravarthy Nagar's 2024 figure aligns with this median.

• Kannaiya Nagar Phase-I: Rs 400 per sq.ft (2024)
• Lake View: Rs 400 per sq.ft (2024)
• Maniyammai Nagar: Rs 400 per sq.ft (2024)
• Maniyammai Nagar Ist Avenue: Rs 400 per sq.ft (2024)
• Sri Sai Nagar: Rs 400 per sq.ft (2024)
• Sri Sai Nagar Part-I: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Chakravarthy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chakravarthy Nagar?

The Chakravarthy Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Siruvanchur. It serves as the minimum value for which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps determine the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chakravarthy Nagar?

The current guideline value of Chakravarthy Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 400 per sq.ft in both 2023 and 2024. The value was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What is the land classification for Chakravarthy Nagar?

Chakravarthy Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 400 per sq.ft, the total costs would amount to Rs 36,000.