Guideline Value for Chairman C.N.Mahadevan Street

Chairman C.N.Mahadevan Street guideline value

The current guideline value of Chairman C.N.Mahadevan Street is Rs 4,125 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Town village and falls under the Chengleput Joint I SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Chairman C.N.Mahadevan Street has changed

Over the years, the guideline value of Chairman C.N.Mahadevan Street has seen significant changes. In the 2007 revision, the guideline value was Rs 500 per sq.ft. This increased dramatically to Rs 3,750 per sq.ft in the 2012 revision, marking a rise of 650%. However, in the 2017 revision, it decreased to Rs 2,512 per sq.ft, a drop of 33%. The value then rose to Rs 3,750 per sq.ft in the 2023 revision, followed by a further increase to Rs 4,125 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From the 2007 revision to the current 2024 revision, the overall increase in guideline value is 725%. The transition from Rs 2,512 per sq.ft in 2017 to Rs 4,125 per sq.ft in 2024 reflects a growth of 49% over this period. Each revision has contributed to the current valuation, emphasizing the fluctuations in property values over time.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value is Rs 3,025 per sq.ft, placing Chairman C.N.Mahadevan Street's current value above this median.

• Chairman Ekambaranar Street: Rs 4,125 per sq.ft (2024)
• Chinnamaniyakara Street: Rs 3,850 per sq.ft (2024)
• Councilor Devarajanar Street: Rs 4,125 per sq.ft (2024)
• Devadoss Street: Rs 4,125 per sq.ft (2024)
• Bharathiar Street: Rs 3,300 per sq.ft (2024)
• Dr.Varadarajan Street: Rs 4,125 per sq.ft (2024)

Stamp duty and registration fee for property in Chairman C.N.Mahadevan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,125 per sq.ft, the total guideline value would be Rs 41,25,000. The stamp duty at 7% would amount to Rs 2,88,750, and the registration fee at 2% would be Rs 82,500. Together, the total cost for stamp duty and registration would be Rs 3,71,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chairman C.N.Mahadevan Street?

The Sub Registrar Office that covers Chairman C.N.Mahadevan Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chengalpattu Town. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. The higher of the guideline value or the sale price is considered for calculating these fees.

When a buyer or seller approaches the registration office, the guideline value is referenced to ensure that the appropriate fees are collected. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Chairman C.N.Mahadevan Street?

The current guideline value of Chairman C.N.Mahadevan Street is Rs 4,125 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 500 per sq.ft in 2007 to Rs 4,125 per sq.ft in 2024, reflecting an overall increase of 725% over this period.

What are the other streets in Chengalpattu Town with similar guideline values?

Other streets in Chengalpattu Town with similar guideline values include Chairman Ekambaranar Street, Councilor Devarajanar Street, and Devadoss Street, all valued at Rs 4,125 per sq.ft in 2024.

What fees are applicable when registering property in this area?

When registering property in Chairman C.N.Mahadevan Street, the applicable fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles the registration for Chairman C.N.Mahadevan Street?

The Chengleput Joint I Sub Registrar Office handles the registration for Chairman C.N.Mahadevan Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.