Guideline Value for CHINNASWAMY NAGAR/ EXT

Chinnaswamy Nagar/ Ext guideline value

The current guideline value for Chinnaswamy Nagar/ Ext is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Matthur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Chinnaswamy Nagar/ Ext has changed

Over the years, the guideline value for Chinnaswamy Nagar/ Ext has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 1,100 per sq.ft.

Specifically, the change from 2017 to 2023 was an increase of 49%, while the change from 2023 to 2024 is a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Matthur

In Matthur, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 1,100 per sq.ft, which is the same as the guideline value for Chinnaswamy Nagar/ Ext.

• C K M Nagar: Rs 1,100 per sq.ft (2024)
• Bhuvaneshwari Nagar: Rs 1,100 per sq.ft (2024)
• D.M.Nagar: Rs 2,276 per sq.ft (2024)
• Bharathi Nagar: Rs 1,100 per sq.ft (2024)
• Balasubramaniya Nagar: Rs 1,100 per sq.ft (2024)
• Balamurugan Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnaswamy Nagar/ Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chinnaswamy Nagar/ Ext?

The Sub Registrar Office that covers Chinnaswamy Nagar/ Ext is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Matthur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the sale. This helps in maintaining a standardized process across various transactions within the region.

Frequently asked questions

What is the current guideline value for Chinnaswamy Nagar/ Ext?

The current guideline value for Chinnaswamy Nagar/ Ext is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Chinnaswamy Nagar/ Ext?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would be Rs 99,000.

Which office handles property registrations in Chinnaswamy Nagar/ Ext?

The Thiruvottiyur Sub Registrar Office handles property registrations in Chinnaswamy Nagar/ Ext, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Chinnaswamy Nagar/ Ext?

Chinnaswamy Nagar/ Ext is classified as Residential Special Type - III, indicating its suitability for residential development.