Guideline Value for CHENGAI CROWN CITY

Chengai Crown City guideline value

The current guideline value of Chengai Crown City in Thunjam village is Rs 1,120 per sq.ft, effective from 1 July 2024. The property falls under the Chengleput Joint I SRO and is classified as Mixed Special Type - II.

How the guideline value of Chengai Crown City has changed

In the 2017 revision, the guideline value was set at Rs 750 per sq.ft. This figure remained unchanged in the 2023 revision, but in the 2024 revision, it increased to Rs 1,120 per sq.ft, reflecting a significant increase of 49% from the 2017 figure. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value saw a 49% increase, and overall, from 2017 to 2024, it also increased by 49%. The 2024 guideline value of Rs 1,120 per sq.ft is consistent with the 2023 revision, indicating no change between these two years.

Guideline values in Thunjam

In Thunjam, there are 11 streets under the Chengleput Joint I SRO that have a 2024 guideline value ranging from Rs 600 to Rs 1,500 per sq.ft. The median value for these streets is Rs 605 per sq.ft, placing the guideline value of Chengai Crown City above this median.

• Annai Nagar: Rs 1,500 per sq.ft (2024)
• Sai Lakshmi Nagar Part I: Rs 600 per sq.ft (2024)
• Sai Lakshmi Nagar Part I Annexe: Rs 600 per sq.ft (2024)
• Sai Lakshmi Nagar Part II: Rs 605 per sq.ft (2024)
• Sai Lakshmi Nagar Part III: Rs 605 per sq.ft (2024)
• Sai Lakshmi Nagar Part IV: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Chengai Crown City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,120 per sq.ft, the total guideline value amounts to Rs 11,20,000. The stamp duty at 7% would be Rs 78,400, and the registration fee at 2% would be Rs 22,400, bringing the total fees to Rs 1,00,800. 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 Chengai Crown City?

The Chengai Crown City is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is crucial during the registration of property transactions in Thunjam. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When you buy or sell property, the guideline value helps in determining the amount of taxes payable. It is important to note that the duty is charged on the higher of the guideline value and the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Chengai Crown City?

The current guideline value of Chengai Crown City is Rs 1,120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 750 per sq.ft in 2017 to Rs 1,120 per sq.ft in 2024, marking a 49% increase over this period.

What is the land classification of Chengai Crown City?

Chengai Crown City is classified as Mixed Special Type - II, which indicates its intended use and zoning regulations.

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

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 11,20,000 would incur a total fee of Rs 1,00,800.

Which office is responsible for property registration in Chengai Crown City?

The Chengleput Joint I Sub Registrar Office is responsible for property registration in Chengai Crown City, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.