Guideline Value for CHITHAMANUR AREA II INDUSTRIAL AREA

Chithamanur Area II Industrial Area guideline value

The current guideline value for Chithamanur Area II Industrial Area is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Kilkaranai village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Chithamanur Area II Industrial Area has changed

The guideline value for Chithamanur Area II Industrial Area has seen several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. In the 2023 revision, the guideline value increased to Rs 1,200 per sq.ft, and the most recent revision in 2024 set it at Rs 1,320 per sq.ft.

Between the revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision saw a further increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kilkaranai

In Kilkaranai, there are 12 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 1,870 per sq.ft, with a median of Rs 1,100 per sq.ft. The guideline value for Chithamanur Area II Industrial Area is above this median.

• Keelkaranai Main Road: Rs 1,100 per sq.ft (2024)
• Keelkaranai Pillaiyar Koil Street: Rs 1,100 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Mettu Street: Rs 1,100 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,100 per sq.ft (2024)
• School Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chithamanur Area II Industrial Area

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, resulting in a total cost of Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chithamanur Area II Industrial Area?

The Sub Registrar Office that covers Chithamanur Area II Industrial Area is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kilkaranai. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the transaction.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Chithamanur Area II Industrial Area?

The current guideline value for Chithamanur Area II Industrial Area is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and is currently Rs 1,320 per sq.ft in 2024.

What is the land classification for Chithamanur Area II Industrial Area?

The land classification for Chithamanur Area II Industrial Area is Residential Special Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for properties in Kilkaranai?

The Chengleput Joint II Sub Registrar Office handles registrations for properties in Kilkaranai, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.