Guideline Value for CHITRAKULATH STREET

Chitrakulath Street guideline value

The current guideline value of Chitrakulath Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Chitrakulath Street has changed

The guideline value for Chitrakulath Street has seen several revisions over the years. In 2002, the value was Rs 761 per sq.ft, which increased to Rs 842 per sq.ft in 2003. By 2007, the value rose significantly to Rs 1,300 per sq.ft, and in 2012, it was Rs 6,500 per sq.ft. However, it decreased to Rs 4,355 per sq.ft in 2017. The value then increased to Rs 6,500 per sq.ft in 2023, before reaching the current rate of Rs 7,150 per sq.ft in 2024.

The changes between the revisions indicate a +10% increase from 2023 to 2024, a +49% increase from 2017 to 2023, a -33% decrease from 2012 to 2017, a +400% increase from 2007 to 2012, a +54% increase from 2003 to 2007, and a +11% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by +840%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value is Rs 9,900 per sq.ft, indicating that Chitrakulath Street's 2024 figure is below this median.

• Cholapuram Street: Rs 7,150 per sq.ft (2024)
• Coastal Road: Rs 12,660 per sq.ft (2024)
• Chellaperumal Street: Rs 7,150 per sq.ft (2024)
• Co-Operative Housing Society (Court Official): Rs 7,150 per sq.ft (2024)
• Central Govt Employee Housing Colony: Rs 9,900 per sq.ft (2024)
• Canal Road (Canal Salai): Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Chitrakulath Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, while the registration fee at 2% would be Rs 1,43,000. Together, the total cost for these fees would be Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chitrakulath Street?

The Sub Registrar Office that covers Chitrakulath Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or bought, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Chitrakulath Street?

The current guideline value of Chitrakulath Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 761 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, showing an overall increase of +840% over the years.

What is the land classification for Chitrakulath Street?

Chitrakulath Street is classified as Residential Class IV Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Chitrakulath Street?

The Sub Registrar Office for Chitrakulath Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 71,50,000, the total fees would amount to Rs 6,43,500.