Guideline Value for COURT COMPOUND WARD-1

Court Compound Ward-1 guideline value

The current guideline value for Court Compound Ward-1 is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Chengalpattu Natham village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Court Compound Ward-1 has changed

The guideline value for Court Compound Ward-1 has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023 and further rose to Rs 2,200 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but the value increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, comparing the values from 2012 to 2024, there has been a 10% increase.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current value for Court Compound Ward-1.

• Chunnambukara Street-4: Rs 2,200 per sq.ft (2024)
• Desigar Koil Sannathi Ward-2: Rs 3,520 per sq.ft (2024)
• Chinna Rathinam Street: Rs 2,200 per sq.ft (2024)
• Chinnamman Kovil Street: Rs 3,300 per sq.ft (2024)
• Dharmaraja Koil Street Ward-4: Rs 2,750 per sq.ft (2024)
• Cement Gst Salai: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Court Compound Ward-1

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Court Compound Ward-1?

The Sub Registrar Office that covers Court Compound Ward-1 is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chengalpattu Natham. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value for Court Compound Ward-1?

The current guideline value for Court Compound Ward-1 is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Court Compound Ward-1?

The land classification for Court Compound Ward-1 is Residential Special Type - III.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Court Compound Ward-1 located?

The Sub Registrar Office for Court Compound Ward-1 is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.