Guideline Value for Chaithanya Apartments

Chaithanya Apartments guideline value

The current guideline value of Chaithanya Apartments is Rs 13,200 per sq.ft, effective from 1 July 2024. This property is located in Thirumangalam village, under the AnnaNagar SRO, and falls under the Mixed Type - II land classification.

How the guideline value of Chaithanya Apartments has changed

The guideline value for Chaithanya Apartments has seen significant changes over the years. In the 2007 revision, the value was Rs 2,200 per sq.ft, which increased dramatically to Rs 12,000 per sq.ft in the 2012 revision, marking a rise of 445%. However, in the 2017 revision, the value decreased to Rs 8,040 per sq.ft, a drop of 33%. The value then rose to Rs 12,000 per sq.ft in the 2023 revision, and finally, it reached Rs 13,200 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 500%. The changes between the revisions highlight the fluctuations in property values in this area, with the most substantial increase occurring from 2007 to 2012.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, placing Chaithanya Apartments above this median at Rs 13,200 per sq.ft.

• Chandramouleeswarar Temple: Rs 13,200 per sq.ft (2024)
• CPWD Quarters: Rs 11,500 per sq.ft (2024)
• Bharathidasan Street: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 3,300 per sq.ft (2024)
• Asiad Colony (Near J.N.Road): Rs 13,200 per sq.ft (2024)
• Gandhi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chaithanya Apartments

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, bringing the total fees together to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chaithanya Apartments?

The Sub Registrar Office that covers Chaithanya Apartments is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thirumangalam, as it determines the minimum value at which property transactions can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction process.

When a property is sold, the registration office will use the guideline value to ensure that the property is not undervalued. This helps maintain transparency and fairness in property transactions, ensuring that all parties are aware of the minimum value set by the government.

Frequently asked questions

What is the current guideline value for Chaithanya Apartments?

The current guideline value for Chaithanya Apartments is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, reflecting a total increase of 500% over the years.

What is the registration office for Chaithanya Apartments?

The registration office for Chaithanya Apartments is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Thirumangalam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 9,24,000.

What other streets have guideline values in Thirumangalam?

Other streets in Thirumangalam include Chandramouleeswarar Temple and Asiad Colony, both at Rs 13,200 per sq.ft, while streets like Bharathidasan Street and Gandhi Street have values of Rs 3,300 per sq.ft.