Guideline Value for CHARLES NAGAR

Charles Nagar guideline value

The current guideline value of Charles Nagar is Rs 440 per sq.ft, effective from the 2024 revision. This area is located in Vellivoyal village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Charles Nagar has changed

The guideline value for Charles Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 268 per sq.ft, which was then increased to Rs 400 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 440 per sq.ft, marking a 10% increase from the previous year. Notably, the overall increase from the 2017 revision to the 2024 revision is 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The significant jumps in the guideline value reflect the changes over the years, with a 49% increase from 2017 to 2023, followed by the latest adjustment in 2024.

Guideline values in Vellivoyal

In Vellivoyal village, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 715 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which is equal to the guideline value of Charles Nagar.

• Devi Karumari Nagar/ Ext: Rs 495 per sq.ft (2024)
• Durugan Colony: Rs 550 per sq.ft (2024)
• Ekkal Colony: Rs 440 per sq.ft (2024)
• Asirvadham Nagar: Rs 440 per sq.ft (2024)
• Ambal Nagar/Ext: Rs 715 per sq.ft (2024)
• Al Mass Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Charles Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Charles Nagar?

The Sub Registrar Office that covers Charles Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vellivoyal. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property in the area.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Charles Nagar?

The current guideline value of Charles Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, and then to Rs 440 per sq.ft in 2024, reflecting an overall increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for property in Charles Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 39,600.

Which Sub Registrar Office covers Charles Nagar?

The Thiruvottiyur Sub Registrar Office covers Charles Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a reference point for ensuring that transactions are recorded at a fair value.