Guideline Value for CITTIBABU NAGAR 1ST STREET

Cittibabu Nagar 1st Street guideline value

The current guideline value of Cittibabu Nagar 1st Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Cittibabu Nagar 1st Street has changed

In the 2012 revision, the guideline value was set at Rs 2,200 per sq.ft. This figure decreased to Rs 1,474 per sq.ft in the 2017 revision, reflecting a change of -33%. The value then increased significantly to Rs 2,200 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,420 per sq.ft in the 2024 revision, which is a rise of 10% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the guideline value of Cittibabu Nagar 1st Street above this median.

• Cittibabu Nagar 2nd Street: Rs 2,420 per sq.ft (2024)
• Cittibabu Nagar 3rd Street: Rs 2,420 per sq.ft (2024)
• Cittibabu Nagar 4th Cross Street: Rs 2,420 per sq.ft (2024)
• Cittibabu Nagar Kulakarai Street: Rs 2,420 per sq.ft (2024)
• Cittibabu Nagar Main Road: Rs 2,420 per sq.ft (2024)
• Citybabu Nagar 1st Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Cittibabu Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 2,420 per sq.ft, the guideline value would be Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, making the total Rs 2,17,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Cittibabu Nagar 1st Street?

The Sub Registrar Office that covers Cittibabu Nagar 1st 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 here.

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

The guideline value is a crucial factor in property transactions in Pallikaranai, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on a standardized assessment of property values.

Frequently asked questions

What is the current guideline value of Cittibabu Nagar 1st Street?

The current guideline value of Cittibabu Nagar 1st Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

What is the land classification of Cittibabu Nagar 1st Street?

The land classification for Cittibabu Nagar 1st Street is Residential Class I Type - I.

Which office handles registrations for Cittibabu Nagar 1st Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Cittibabu Nagar 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Cittibabu Nagar 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000.