Guideline Value for CHITRA NAGAR (SA)

Chitra Nagar (Sa) guideline value

The current guideline value of Chitra Nagar (Sa) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

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

Over the years, the guideline value of Chitra Nagar (Sa) has experienced several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and currently stands at Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable 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 Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 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 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty is calculated at 7%, resulting in Rs 46,200, while the registration fee is 2%, amounting to Rs 13,200. Together, the total cost for stamp duty and registration fee is Rs 59,400. 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 details.

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 more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers need to be aware that these costs are based on the guideline value or the sale price, whichever is higher, which can significantly affect the total expenditure during the transaction.

Frequently asked questions

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

The current guideline value of Chitra Nagar (Sa) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and currently stands at Rs 660 per sq.ft in 2024.

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

The land classification for Chitra Nagar (Sa) is Residential Class I Type - III.

What are the stamp duty and registration fees for properties in Chitra Nagar (Sa)?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total stamp duty and registration fee would amount to Rs 59,400.

Which Sub Registrar Office covers Chitra Nagar (Sa)?

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