Guideline Value for CHENGALPATTU ROAD

Chengalpattu Road guideline value

The current guideline value of Chengalpattu Road in Karumpakkam village, under the Thiruporur SRO, is Rs 250 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Chengalpattu Road has changed

Over the years, the guideline value of Chengalpattu Road has seen several revisions. The earliest recorded revision is from 2012, where the value was Rs 250 per sq.ft. This remained unchanged until the next revision in 2017, where it dropped to Rs 167 per sq.ft, marking a decrease of 33%. However, in 2023, the guideline value rose back to Rs 250 per sq.ft, reflecting a significant increase of 50% from the 2017 figure.

The most recent revision in 2024 has retained the guideline value at Rs 250 per sq.ft, showing no change from the previous year. Notably, there are no recorded figures for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Karumpakkam

Currently, there are no specific guideline values provided for other streets in Karumpakkam under the Thiruporur SRO. Therefore, the Chengalpattu Road guideline value stands as the primary reference for this area.

Stamp duty and registration fee for property in Chengalpattu Road

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty, charged at 7%, would be Rs 17,500, while the registration fee at 2% would be Rs 5,000. Together, the total cost for stamp duty and registration fees would be Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chengalpattu Road?

The Chengalpattu Road falls under the jurisdiction of the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Karumpakkam. It serves as a benchmark for determining the applicable stamp duty and registration fees. Buyers and sellers must ensure that the transaction value is aligned with the guideline value to avoid discrepancies during registration.

When a property is registered, the authorities use the guideline value to calculate the necessary fees. This ensures transparency and standardization in property transactions within the region, benefiting both buyers and sellers by providing a clear framework for financial obligations.

Frequently asked questions

What is the current guideline value of Chengalpattu Road?

The current guideline value of Chengalpattu Road is Rs 250 per sq.ft, effective from the 2024 revision starting on 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most notable revisions occurring in 2012, 2017, 2023, and 2024. The value was Rs 250 per sq.ft in 2012, dropped to Rs 167 per sq.ft in 2017, and then returned to Rs 250 per sq.ft in both 2023 and 2024.

What is the stamp duty rate for properties on Chengalpattu Road?

The stamp duty rate for properties on Chengalpattu Road is 7%. This is calculated based on the higher of the guideline value or the sale price during registration.

Where is the Thiruporur Sub Registrar Office located?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. This office handles all registrations for properties in the area.

How is the guideline value used during property transactions?

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It serves as a reference point to ensure that all financial obligations are clear and standardized during the registration process.