Guideline Value for CRM nagar

CRM nagar guideline value

The current guideline value of CRM nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of CRM nagar has changed

The guideline value for CRM nagar has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a reduction of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and the current revision for 2024 is Rs 2,200 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 633%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

Poonthamallee village has 257 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current value for CRM nagar.

• Churchcross Street: Rs 2,200 per sq.ft (2024)
• Chinnaraj Nagar: Rs 2,740 per sq.ft (2024)
• Chinnappa Nagar: Rs 2,740 per sq.ft (2024)
• Dhakshinamoorthi nagar: Rs 2,200 per sq.ft (2024)
• Chinnamasudhi street: Rs 2,740 per sq.ft (2024)
• Chetti street: Rs 3,250 per sq.ft (2024)

Stamp duty and registration fee for property in CRM nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers CRM nagar?

The Sub Registrar Office that covers CRM nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Poonthamallee, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on it.

When a property is sold, the guideline value is used to assess the applicable stamp duty and registration fees. It is crucial for both parties to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of CRM nagar?

The current guideline value of CRM nagar 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 increased from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over this period.

What are the other streets with guideline values in Poonthamallee?

Other streets in Poonthamallee include Churchcross Street, Dhakshinamoorthi nagar, Chinnaraj Nagar, Chinnappa Nagar, Chinnamasudhi street, and Chetti street, with values ranging from Rs 2,200 to Rs 3,250 per sq.ft in 2024.

What is the stamp duty rate for properties in CRM nagar?

The stamp duty rate for properties in CRM nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find more information about the Sub Registrar Office?

The Poonamallee Sub Registrar Office covers CRM nagar, and you can find more information about it at the address No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.