Guideline Value for CHITHRA NAGAR

Chithra Nagar guideline value

The current guideline value of Chithra Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village, under the Kunrathur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Chithra Nagar has changed

The guideline value for Chithra Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 660 per sq.ft, an increase from Rs 600 per sq.ft in 2023. This change represents a 10% rise. Prior to that, the 2017 revision recorded a value of Rs 402 per sq.ft, marking a significant increase of 49% from that year to 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in 2012, 2007, 2003, and 2002 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft, with a median value of Rs 1,540 per sq.ft. Chithra Nagar's 2024 guideline value is below this median.

• Chitra Nagar: Rs 1,210 per sq.ft (2024)
• Church Street: Rs 1,210 per sq.ft (2024)
• Chekkumedu Vania Street: Rs 1,210 per sq.ft (2024)
• Chandra Nagar: Rs 1,430 per sq.ft (2024)
• Dayalan Nagar: Rs 1,210 per sq.ft (2024)
• Boopathy Avenue: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Chithra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Chithra Nagar?

The Sub Registrar Office that covers Chithra Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a crucial factor in the registration process when buying or selling property in Kunrathour-B. It determines the stamp duty and registration fees that need to be paid, which are calculated based on the higher of the guideline value or the sale price of the property.

When a property transaction occurs, the guideline value ensures that the transaction is recorded at a fair value, which is essential for the government to assess taxes accurately. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Chithra Nagar?

The current guideline value of Chithra Nagar is Rs 660 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 402 per sq.ft in 2017 to Rs 660 per sq.ft in 2024, which is a total increase of 64% over this period.

What are the other streets in Kunrathour-B and their guideline values?

Other streets in Kunrathour-B include Chitra Nagar, Church Street, Chekkumedu Vania Street, Chandra Nagar, Dayalan Nagar, and Boopathy Avenue, with guideline values ranging from Rs 1,210 to Rs 2,420 per sq.ft in 2024.

What fees are associated with buying property in Chithra Nagar?

When buying property in Chithra Nagar, the stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For a property valued at Rs 6,60,000, the total fees would amount to Rs 59,400.

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

The Sub Registrar Office for Chithra Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information about your SRO online.