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 Panangottur village under the Chengleput Joint II SRO and is classified as Residential Class II Type - II.

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

The guideline value for Chitra Nagar (Sa) has undergone several revisions over the years. In the 2012 revision, the guideline value was Rs 400 per sq.ft, which decreased to Rs 268 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 400 per sq.ft in the 2023 revision and further rose to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value saw a decrease of 33%. However, from 2017 to 2023, there was a substantial increase of 49%. 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 Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with the median being Rs 990 per sq.ft. The guideline value for Chitra Nagar (Sa) is below this median.

• Chozhan Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Cmda Layout Nennaikarai (Ward -3): Rs 1,320 per sq.ft (2024)
• Cmda Nagar G.S.T. Road (Ward -3): Rs 2,200 per sq.ft (2024)
• Cheran Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Chelliyamman Kovil Street(Kr): Rs 660 per sq.ft (2024)
• Cs Nh1 (Ward -5): Rs 1,320 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 would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chitra Nagar (Sa)?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property 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 has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Chitra Nagar (Sa)?

Chitra Nagar (Sa) is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

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

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