Guideline Value for CHINAMAYA NAGAR Extension

CHINAMAYA NAGAR Extension guideline value

The current guideline value of CHINAMAYA NAGAR Extension is Rs 4,950 per sq.ft, effective from 1 July 2024. This area is located in Chenchery village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of CHINAMAYA NAGAR Extension has changed

The guideline value for CHINAMAYA NAGAR Extension has seen several revisions over the years. The earliest recorded figure was Rs 600 per sq.ft in 2007. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a notable rise of 650%. However, the value then decreased to Rs 3,015 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,950 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

In summary, the guideline value has experienced an overall increase of 725% from the 2007 figure to the current 2024 value. Notably, there are no recorded figures for the years 2002 and 2003 for this street in the register.

Guideline values in Chenchery

In Chenchery, there are 44 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 7,700 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, making the current value of CHINAMAYA NAGAR Extension above this median.

• Chinamaya Nagar Stage 1: Rs 4,950 per sq.ft (2024)
• CHINAMAYA NAGAR STAGE 2 - Aani Street: Rs 4,950 per sq.ft (2024)
• CHINAMAYA NAGAR STAGE 2 - Chithirai Street: Rs 4,950 per sq.ft (2024)
• CHINAMAYA NAGAR STAGE 2 - Maasi Street: Rs 4,950 per sq.ft (2024)
• CHINAMAYA NAGAR STAGE 2 - Nerkundram Road: Rs 4,950 per sq.ft (2024)
• CHINAMAYA NAGAR STAGE 2 - Ponguni Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in CHINAMAYA NAGAR Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total charges to Rs 4,45,500. It is important to note that 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 CHINAMAYA NAGAR Extension?

The Sub Registrar Office that covers CHINAMAYA NAGAR Extension is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Chenchery. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. This value is used by the authorities to calculate the necessary fees associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of CHINAMAYA NAGAR Extension?

The current guideline value of CHINAMAYA NAGAR Extension is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, representing an overall increase of 725% over the years.

What are the other streets in Chenchery with similar guideline values?

Other streets in Chenchery, such as Chinamaya Nagar Stage 1 and various streets in CHINAMAYA NAGAR STAGE 2, also have a guideline value of Rs 4,950 per sq.ft for 2024.

What is the stamp duty rate for properties in CHINAMAYA NAGAR Extension?

The stamp duty rate for properties in CHINAMAYA NAGAR Extension is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for CHINAMAYA NAGAR Extension?

The Sub Registrar Office for CHINAMAYA NAGAR Extension is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.