Guideline Value for CHITRA NAGAR (SA)

Chitra Nagar (Sa) guideline value

The current guideline value of Chitra Nagar (Sa) is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Peramanoor village, under the Chengleput Joint II SRO, 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 2012, the value was set at Rs 500 per sq.ft. This figure remained unchanged until 2017 when it decreased to Rs 335 per sq.ft. However, the value saw a significant increase to Rs 500 per sq.ft in 2023, and further rose to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value reflects a modest increase of 10%.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO with a guideline value for 2024 ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Chitra Nagar (Sa) below that 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 661 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. 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 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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peramanoor. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the guideline value, as it influences the overall cost of registration. Buyers and sellers should ensure they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Chitra Nagar (Sa) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

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

Chitra Nagar (Sa) is classified as Residential Class II Type - II.

What are the guideline values of other streets in Peramanoor?

Other streets in Peramanoor have varying guideline values, with rates ranging from Rs 550 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the provided link.