Guideline Value for CHAKRESWARI NAGAR EXTENSION

Chakreswari Nagar Extension guideline value

The current guideline value of Chakreswari Nagar Extension is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Sundaracholavaram village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Chakreswari Nagar Extension has changed

The guideline value for Chakreswari Nagar Extension has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and currently stands at Rs 880 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 to 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,600 per sq.ft. The median value is Rs 660 per sq.ft, and Chakreswari Nagar Extension's 2024 figure of Rs 880 per sq.ft is above this median.

• Chakareswari Nagar Annexe: Rs 1,065 per sq.ft (2024)
• Devi Karumariyamman Nagar: Rs 550 per sq.ft (2024)
• Divya Nagar: Rs 880 per sq.ft (2024)
• Balakrishnan naidu street: Rs 660 per sq.ft (2024)
• Balakrishnan Nagar: Rs 880 per sq.ft (2024)
• Bajanai Koil to Koladi link: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Chakreswari Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chakreswari Nagar Extension?

The Sub Registrar Office that covers Chakreswari Nagar Extension is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Sundaracholavaram. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring that they are paying the correct amounts as mandated by the Registration Department.

When registering a property, it is essential to refer to the current guideline value to avoid any discrepancies. This value can influence the overall cost of the transaction and should be considered carefully by all parties involved.

Frequently asked questions

What is the current guideline value of Chakreswari Nagar Extension?

The current guideline value of Chakreswari Nagar Extension is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and is currently Rs 880 per sq.ft in 2024.

What is the land classification for Chakreswari Nagar Extension?

Chakreswari Nagar Extension is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Chakreswari Nagar Extension is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Chakreswari Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 8,80,000 would incur a stamp duty of Rs 61,600 at 7%.