Guideline Value for CITTIBABU NAGAR 3RD STREET

Cittibabu Nagar 3rd Street guideline value

The current guideline value of Cittibabu Nagar 3rd 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 3rd Street has changed

The guideline value for Cittibabu Nagar 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,474 per sq.ft. The 2023 revision saw an increase to Rs 2,200 per sq.ft, followed by a further increase of 10% to the current value of Rs 2,420 per sq.ft in 2024.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The register does not contain figures 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 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making the 2024 figure for Cittibabu Nagar 3rd Street above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Cittibabu Nagar 3rd Street?

The Sub Registrar Office that covers Cittibabu Nagar 3rd 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 Pallikaranai

The guideline value plays a crucial role in property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Cittibabu Nagar 3rd Street?

The current guideline value of Cittibabu Nagar 3rd 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 2023 to Rs 2,420 per sq.ft in 2024, representing a 10% increase. The value was Rs 1,474 per sq.ft in 2017 and Rs 2,200 per sq.ft in 2012, showing significant fluctuations over the years.

What is the registration office for Cittibabu Nagar 3rd Street?

The registration office for Cittibabu Nagar 3rd 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.

How is stamp duty calculated for properties in Cittibabu Nagar 3rd 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 the current guideline value, the total stamp duty would be Rs 1,69,400 at 7%.

What is the land classification for Cittibabu Nagar 3rd Street?

The land classification for Cittibabu Nagar 3rd Street is Residential Class I Type - I, indicating its designation for residential purposes.