Guideline Value for Cathedral Garden Road

Cathedral Garden Road guideline value

The current guideline value of Cathedral Garden Road is Rs 12,600 per sq.ft, effective from 1 July 2024. This road is located in Nungambakkam village, under the Chennai Central Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Cathedral Garden Road has changed

The guideline value for Cathedral Garden Road has seen several revisions over the years. In the 2007 revision, the value was Rs 4,700 per sq.ft, which increased significantly to Rs 11,500 per sq.ft in 2012, marking a rise of 145%. However, in the 2017 revision, the value dropped to Rs 7,705 per sq.ft, a decrease of 33%. The value then surged to Rs 11,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 12,600 per sq.ft in the 2024 revision, reflecting a 10% rise.

From the 2017 revision to the 2023 revision, the increase was 49%. Overall, from 2007 to 2024, the guideline value has increased by 168%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Cathedral Garden Road's 2024 figure above this median.

• Cathedral Garden Lane: Rs 10,400 per sq.ft (2024)
• Brown Stone Apartments: Rs 11,500 per sq.ft (2024)
• Bootha Perumal Naiken Lane: Rs 8,800 per sq.ft (2024)
• Bootha Perumal Naicken St: Rs 8,800 per sq.ft (2024)
• Binny Road: Rs 12,600 per sq.ft (2024)
• Chokalingam Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Cathedral Garden Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,600 per sq.ft, the total guideline value amounts to Rs 1,26,00,000. The stamp duty, charged at 7%, would be Rs 8,82,000, while the registration fee at 2% would be Rs 2,52,000, leading to a total of Rs 11,34,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cathedral Garden Road?

The Sub Registrar Office covering Cathedral Garden Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nungambakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the financial implications of the transaction. It is essential to be aware of the current guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Cathedral Garden Road?

The current guideline value of Cathedral Garden Road is Rs 12,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 4,700 per sq.ft in 2007 to Rs 12,600 per sq.ft in 2024, reflecting an overall increase of 168% over this period.

What is the land classification for Cathedral Garden Road?

Cathedral Garden Road is classified as Residential Special Type - I under the Chennai Central Joint II SRO.

What are the stamp duty and registration fees for properties on this road?

For a property valued at Rs 1,26,00,000, the stamp duty would be Rs 8,82,000 and the registration fee would be Rs 2,52,000, totaling Rs 11,34,000.

Where can I find the Sub Registrar Office for Cathedral Garden Road?

The Sub Registrar Office for Cathedral Garden Road is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.