Guideline Value for CHAMUDEESWARI NAGAR (WARD-21)

Chamudeeswari Nagar (Ward-21) guideline value

The current guideline value of Chamudeeswari Nagar (Ward-21) is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Chamudeeswari Nagar (Ward-21) has changed

The guideline value for Chamudeeswari Nagar has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, which is an increase of 10% from the 2023 figure of Rs 1,800 per sq.ft. Looking further back, the 2017 revision recorded a guideline value of Rs 1,206 per sq.ft, marking a significant rise of 49% to the 2023 figure. The 2012 revision had a guideline value of Rs 1,800 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

In Potheri village, there are 129 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,970 per sq.ft. The median value for these streets is Rs 770 per sq.ft, indicating that the guideline value for Chamudeeswari Nagar is above this median.

• C.B.S.C Nagar (Val): Rs 880 per sq.ft (2024)
• Bhuvaneswari Amman Nagar (Ward-21): Rs 1,100 per sq.ft (2024)
• Dac Urban Park: Rs 2,970 per sq.ft (2024)
• Bharathi Street (Ward-21): Rs 660 per sq.ft (2024)
• Bharathiar Street (Ward-20): Rs 1,100 per sq.ft (2024)
• Bhagatsingh Street (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Chamudeeswari Nagar (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration would be Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Chamudeeswari Nagar (Ward-21)?

The Sub Registrar Office that covers Chamudeeswari Nagar (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Potheri. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that the guideline value is often considered the minimum value for property transactions, ensuring that all parties are aware of the baseline value of the property.

When registering a property, the seller and buyer must agree on a sale price that meets or exceeds the guideline value. This ensures that the transaction is compliant with local regulations and that the appropriate taxes are paid based on the guideline value.

Frequently asked questions

What is the current guideline value of Chamudeeswari Nagar (Ward-21)?

The current guideline value of Chamudeeswari Nagar (Ward-21) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024, an increase of 10%. It was Rs 1,206 per sq.ft in 2017, showing a rise of 49% to the 2023 figure.

What is the land classification for Chamudeeswari Nagar?

The land classification for Chamudeeswari Nagar (Ward-21) is Residential Special Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions in this area?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200. Duty is charged on the higher of the guideline value or sale price.

Where is the Sub Registrar Office for Chamudeeswari Nagar located?

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