Guideline Value for CHANDRA NAGAR

Chandra Nagar guideline value

The current guideline value of Chandra Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Vengathur village and falls under the Manavalanagar SRO. The land classification for this locality is Residential Class IV Type - I.

How the guideline value of Chandra Nagar has changed

Over the years, the guideline value of Chandra Nagar has seen several revisions. The 2007 revision set the value at Rs 100 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision, marking a 400% increase. However, the 2017 revision saw a decrease to Rs 335 per sq.ft, a reduction of 33%. The value then rose to Rs 500 per sq.ft in 2023 and remained the same in the 2024 revision, indicating no change from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 400%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value in this area is Rs 1,000 per sq.ft, placing Chandra Nagar's 2024 figure below this median.

• Buther Street: Rs 1,300 per sq.ft (2024)
• C.V.M.Annamalai Street: Rs 600 per sq.ft (2024)
• Bharathidhasan Street: Rs 1,300 per sq.ft (2024)
• Bharathiar Street: Rs 1,000 per sq.ft (2024)
• Dr.ABDULKALAM STREET: Rs 1,300 per sq.ft (2024)
• Dr.KARUNANITHI CROSS STREET: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Chandra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees together to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chandra Nagar?

The Sub Registrar Office that covers Chandra Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai. You can find your SRO for more information.

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

When buying or selling property in Vengathur, the guideline value is used to determine the stamp duty and registration fees applicable during the registration process. This value serves as a benchmark for calculating the taxes owed, ensuring that both parties are aware of the financial obligations associated with the transaction.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of the property transaction. The guideline value is set by the Registration Department and is subject to periodic revisions based on various factors.

Frequently asked questions

What is the current guideline value of Chandra Nagar?

The current guideline value of Chandra Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 100 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreasing to Rs 335 per sq.ft in 2017, before returning to Rs 500 per sq.ft in 2023 and 2024.

Where can I find the Sub Registrar Office for Chandra Nagar?

The Sub Registrar Office for Chandra Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai.

How is the stamp duty calculated in Chandra Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 35,000.

What are the guideline values of other streets in Vengathur?

Other streets in Vengathur have varying guideline values, with rates ranging from Rs 500 to Rs 2,000 per sq.ft. For instance, Buther Street has a guideline value of Rs 1,300 per sq.ft, while C.V.M.Annamalai Street is at Rs 600 per sq.ft.