Guideline Value for CHANDAR NAGAR PHASE-I,II,III

Chandar Nagar Phase-I,II,III guideline value

The current guideline value for Chandar Nagar Phase-I, II, III is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Salavakkam village and falls under the Salavakkam SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Chandar Nagar Phase-I,II,III has changed

Over the years, the guideline value for Chandar Nagar Phase-I, II, III has seen several revisions. The 2012 and 2017 revisions both recorded a guideline value of Rs 100 per sq.ft and Rs 100 per sq.ft, respectively. The 2023 revision maintained the value at Rs 150 per sq.ft, which was unchanged in the 2024 revision, indicating a 0% change from 2023 to 2024. From 2017 to 2023, there was a 50% increase, bringing the value to Rs 150 per sq.ft.

Overall, from 2012 to 2024, the guideline value increased by 50%, reflecting the changes in the area over the years. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street in the register.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft. The median value is Rs 150 per sq.ft, which is the same as the current guideline value for Chandar Nagar Phase-I, II, III. Below are the guideline values for other streets in Salavakkam:

• Chandar Nagar Phase-4: Rs 150 per sq.ft (2024)
• Chetti Street: Rs 126 per sq.ft (2024)
• Chokkamman Street: Rs 150 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 126 per sq.ft (2024)
• Dhanalakshmi Nagar Extension -I: Rs 200 per sq.ft (2024)
• Bazaar Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Chandar Nagar Phase-I,II,III

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. Please note that the 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 details.

Which Sub Registrar Office covers Chandar Nagar Phase-I,II,III?

The Sub Registrar Office that covers Chandar Nagar Phase-I, II, III is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Salavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the stamp duty and registration fees that need to be paid. Buyers should ensure that they are informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Chandar Nagar Phase-I,II,III?

The current guideline value for Chandar Nagar Phase-I, II, III is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft since 2023 and has increased from Rs 100 per sq.ft in 2017. Overall, from 2012 to 2024, there has been a 50% increase in the guideline value.

What is the land classification for Chandar Nagar Phase-I,II,III?

Chandar Nagar Phase-I, II, III is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for buying property here?

For a property valued at Rs 1,50,000, the stamp duty would be Rs 10,500 and the registration fee would be Rs 3,000, totaling Rs 13,500. Duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for this area?

The Salavakkam Sub Registrar Office handles registrations for Chandar Nagar Phase-I, II, III. The office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.