Guideline Value for CMRL ROAD

Cmrl Road guideline value

The current guideline value of Cmrl Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This road is located in Saligramam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Mixed Special Type - II.

How the guideline value of Cmrl Road has changed

The guideline value for Cmrl Road has seen significant changes over the years. The 2017 revision set the value at Rs 8,040 per sq.ft, which increased to Rs 12,000 per sq.ft in the 2023 revision. The latest revision in 2024 raised the guideline value to Rs 13,200 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The changes between the revisions highlight a substantial increase in the guideline value over the years, particularly between 2017 and 2023, which saw a rise of 49%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Cmrl Road's 2024 figure above the median.

• Dasarathapuram 1st Street: Rs 3,850 per sq.ft (2024)
• Dasarathapuram 2nd Street: Rs 3,850 per sq.ft (2024)
• Dasarathapuram 3rd Street: Rs 3,850 per sq.ft (2024)
• Dasarathapuram 4th Street: Rs 3,850 per sq.ft (2024)
• Dasarathapuram 5th Street: Rs 3,850 per sq.ft (2024)
• Dasarathapuram 6th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Cmrl Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, leading to a total cost of Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cmrl Road?

The Sub Registrar Office that covers Cmrl Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Saligramam, the guideline value helps in calculating the stamp duty and registration fees, ensuring compliance with local regulations.

During the registration process, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Cmrl Road?

The current guideline value of Cmrl Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 8,040 per sq.ft to Rs 13,200 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Chennai is typically charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Cmrl Road?

The Sub Registrar Office for Cmrl Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Saligramam?

The median guideline value for streets in Saligramam is Rs 4,400 per sq.ft, while Cmrl Road's guideline value is significantly above this median at Rs 13,200 per sq.ft.