Guideline Value for CITTIBABU NAGAR 4TH CROSS STREET

Cittibabu Nagar 4th Cross Street guideline value

The current guideline value of Cittibabu Nagar 4th Cross 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 4th Cross Street has changed

The guideline value for Cittibabu Nagar 4th Cross Street has seen several revisions over the years. In 2012, the value was Rs 2,200 per sq.ft, which decreased to Rs 1,474 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,420 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO, with guideline values for 2024 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, placing Cittibabu Nagar 4th Cross Street above this median.

• Cittibabu Nagar 3rd Street: Rs 2,420 per sq.ft (2024)
• Cittibabu Nagar Kulakarai Street: Rs 2,420 per sq.ft (2024)
• Cittibabu Nagar 2nd Street: Rs 2,420 per sq.ft (2024)
• Cittibabu Nagar Main Road: Rs 2,420 per sq.ft (2024)
• Cittibabu Nagar 1st Street: 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 4th Cross 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. Together, these fees would total 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 4th Cross Street?

The Sub Registrar Office that covers Cittibabu Nagar 4th Cross 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 is a critical factor in property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Cittibabu Nagar 4th Cross Street?

The current guideline value of Cittibabu Nagar 4th Cross Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly. It was Rs 2,200 per sq.ft in 2012, decreased to Rs 1,474 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2023, before reaching Rs 2,420 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 24,20,000, the stamp duty is Rs 1,69,400 at 7%, and the registration fee is Rs 48,400 at 2%, totaling Rs 2,17,800.

Which office handles registrations for Cittibabu Nagar 4th Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Cittibabu Nagar 4th Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Cittibabu Nagar 4th Cross Street?

The land classification for Cittibabu Nagar 4th Cross Street is Residential Class I Type - I, indicating its suitability for residential development.