Guideline Value for CHIDAMBARAM NAGAR MAIN STREET

Chidambaram Nagar Main Street guideline value

The current guideline value of Chidambaram Nagar Main 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 Main Street has changed

The guideline value for Chidambaram Nagar Main Street has seen several revisions over the years. The 2017 revision set the value at Rs 2,680 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in the 2023 revision, marking a change of 49%. The most recent revision in 2024 raised the guideline value to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are a total of 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, and Chidambaram Nagar Main Street's current value is above this median.

• Chidambaram Nagar 1st 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 Main Street

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

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chidambaram Nagar Main Street?

The Sub Registrar Office that covers Chidambaram Nagar Main Street is 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 more details.

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

The guideline value is a crucial factor during the registration process 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 transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers and sellers should be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Chidambaram Nagar Main Street?

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, marking a total increase of 64% over these years.

What is the land classification for Chidambaram Nagar Main Street?

Chidambaram Nagar Main Street is classified as Residential Special Type - V, indicating its designation for residential use.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a property valued at Rs 44,00,000 would incur a total of Rs 3,96,000 in fees.