Guideline Value for Chakarapani Nagar & Ext.,

Chakarapani Nagar & Ext., guideline value

The current guideline value of Chakarapani Nagar & Ext., is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Chakarapani Nagar & Ext., has changed

The guideline value for Chakarapani Nagar & Ext., has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,900 per sq.ft from the 2024 revision.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and by 6% from 2023 to 2024. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Chakarapani Nagar & Ext., is below this median.

• Burma Colony Main Road: Rs 850 per sq.ft (2024)
• Burma Colony 6th Street: Rs 850 per sq.ft (2024)
• Burma Colony 5th Street: Rs 850 per sq.ft (2024)
• Burma Colony 4th Street: Rs 850 per sq.ft (2024)
• Burma Colony 3rd Street: Rs 850 per sq.ft (2024)
• Burma Colony 2nd Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Chakarapani Nagar & Ext.,

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. 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 Chakarapani Nagar & Ext.,?

The Sub Registrar Office that covers Chakarapani Nagar & Ext., is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Chembakkam. It determines the minimum value at which the property can be registered, ensuring that transactions reflect a fair value for the property being exchanged.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chakarapani Nagar & Ext.,?

The current guideline value of Chakarapani Nagar & Ext., is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and is currently Rs 1,900 per sq.ft in 2024.

What is the land classification for Chakarapani Nagar & Ext.,?

Chakarapani Nagar & Ext., is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

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

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Where can I find the Sub Registrar Office for Chakarapani Nagar & Ext.,?

The Sub Registrar Office for Chakarapani Nagar & Ext., is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.