Guideline Value for CHINNAPA NAGAR

Chinnapa Nagar guideline value

The current guideline value of Chinnapa Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is part of S. Kullathur village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Chinnapa Nagar has changed

The guideline value for Chinnapa Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 1,452 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, it saw a decrease to Rs 1,675 per sq.ft in 2017. The value then rose significantly to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, there have been various percentage changes. From 2017 to 2023, there was a 49% increase, while the jump from 2023 to 2024 reflects a 10% rise. The overall change from 2007 to 2024 shows an increase of 89% in the guideline value.

Guideline values in S. Kullathur

S. Kullathur has a total of 71 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is the same as the current value for Chinnapa Nagar.

• Chinnappa Nagar 1 And 2 Streets: Rs 2,750 per sq.ft (2024)
• Devi Karumariamman Nagar: Rs 2,530 per sq.ft (2024)
• Devi Karumariamman Nagar 1 & 2 Main Road: Rs 2,530 per sq.ft (2024)
• Bhavani Street: Rs 2,530 per sq.ft (2024)
• Dillibabu Nagar: Rs 2,750 per sq.ft (2024)
• Bharath Madha 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnapa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total of Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Chinnapa Nagar?

The Sub Registrar Office that covers Chinnapa Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in S. Kullathur

The guideline value is a crucial factor in property transactions in S. Kullathur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall costs associated with the transaction. Understanding these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Chinnapa Nagar?

The current guideline value of Chinnapa Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,452 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 89% over the years.

What is the land classification of Chinnapa Nagar?

Chinnapa Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Chinnapa Nagar?

The Sub Registrar Office for Chinnapa Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Chinnapa Nagar?

Stamp duty for properties in Chinnapa Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.