Guideline Value for CHITRA NAGAR (SA)

Chitra Nagar (Sa) guideline value

The current guideline value of Chitra Nagar (Sa) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Chitra Nagar (Sa) has changed

The guideline value for Chitra Nagar (Sa) has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which was then reduced to Rs 268 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 400 per sq.ft, and the latest 2024 revision raised it further to Rs 440 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value, reflecting the adjustments made in the revisions over the years.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that the 2024 figure for Chitra Nagar (Sa) is below this median.

• Chozhan Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Cmda Layout Nennaikarai (Ward -3): Rs 1,321 per sq.ft (2024)
• Cmda Nagar G.S.T. Road (Ward -3): Rs 2,200 per sq.ft (2024)
• Cheran Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Chelliyamman Kovil Street(Kr): Rs 660 per sq.ft (2024)
• Cs Nh1 (Ward -5): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Chitra Nagar (Sa)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total costs to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Chitra Nagar (Sa)?

The Sub Registrar Office that covers Chitra Nagar (Sa) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property in Ninna Karai. It serves as a base for calculating stamp duty and registration fees, ensuring that the government receives its due revenue from property transactions.

When you buy or sell property, the guideline value helps determine the minimum price at which the property can be registered. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Chitra Nagar (Sa)?

The current guideline value of Chitra Nagar (Sa) is Rs 440 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value increased by 10% from Rs 400 per sq.ft in 2023 to Rs 440 per sq.ft in 2024.

What was the guideline value in 2017?

The guideline value of Chitra Nagar (Sa) in 2017 was Rs 268 per sq.ft. This was a decrease from the previous value of Rs 400 per sq.ft in 2012.

Where can I find the Sub Registrar Office for Chitra Nagar (Sa)?

The Chengleput Joint II Sub Registrar Office covers Chitra Nagar (Sa) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property in Chitra Nagar (Sa)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 4,40,000 would incur a stamp duty of Rs 30,800.