Guideline Value for CHIDAMBARAM NAGAR 1ST STREET

Chidambaram Nagar 1st Street guideline value

The current guideline value of Chidambaram Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO and is classified as Residential Special Type - V.

How the guideline value of Chidambaram Nagar 1st Street has changed

In the 2017 revision, the guideline value was Rs 2,680 per sq.ft. The most recent revision in 2024 increased this figure to Rs 4,400 per sq.ft, marking a significant increase of 64% over the seven-year period. It is important to note that the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions available for Chidambaram Nagar 1st Street are from 2017 and 2024, showing a clear upward trend in the guideline value during this timeframe.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median of Rs 2,200 per sq.ft. The guideline value of Chidambaram Nagar 1st Street is above this median.

• Chidambaram Nagar Main Street: Rs 4,400 per sq.ft (2024)
• Chidambaram Co-Operative Housing Society Colony: Rs 4,400 per sq.ft (2024)
• Cherian Thottam: Rs 1,700 per sq.ft (2024)
• Chockalingam Street (Grama Nedunchalai 7th Cross Street): Rs 2,200 per sq.ft (2024)
• C.G.S. Farms Main Road: Rs 2,800 per sq.ft (2024)
• C.G.S. Farms 1st Street Cross Extension: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Chidambaram Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total charges to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Chidambaram Nagar 1st Street?

The Chidambaram Nagar 1st Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the state collects appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for completing the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Chidambaram Nagar 1st Street?

The current guideline value of Chidambaram Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 2,680 per sq.ft to Rs 4,400 per sq.ft, which is a rise of 64%.

What is the land classification for Chidambaram Nagar 1st Street?

Chidambaram Nagar 1st Street is classified as Residential Special Type - V according to the guideline value register.

Which Sub Registrar Office should I contact for transactions in Chidambaram Nagar 1st Street?

The Neelankarai Sub Registrar Office covers transactions in Chidambaram Nagar 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Chidambaram Nagar 1st Street?

Stamp duty for properties in Chidambaram Nagar 1st Street is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.