Guideline Value for Chakaravarthi Nagar

Chakaravarthi Nagar guideline value

The current guideline value of Chakaravarthi Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Korukanthangal village under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Chakaravarthi Nagar has changed

Over the years, the guideline value of Chakaravarthi Nagar has seen several revisions. In 2007, the value was Rs 135 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. This was followed by a decrease to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the value at Rs 500 per sq.ft, showing no change between these two years.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2007 to 2024 reflects a substantial increase of 270%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Korukanthangal

In Korukanthangal, there are 25 streets under the Gooduvancheri SRO that carry a guideline value of Rs 500 per sq.ft as of 2024. The guideline value of Chakaravarthi Nagar is equal to the median of Rs 500 per sq.ft for the village.

• Deepa Avenue: Rs 500 per sq.ft (2024)
• Ambujam Nagar: Rs 500 per sq.ft (2024)
• Kalaimagal Avenue: Rs 500 per sq.ft (2024)
• Kannadasan Nagar: Rs 500 per sq.ft (2024)
• Krishna Nagar: Rs 500 per sq.ft (2024)
• Krishna Nagar Extn-III: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Chakaravarthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total costs to Rs 45,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chakaravarthi Nagar?

The Sub Registrar Office that covers Chakaravarthi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Korukanthangal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Chakaravarthi Nagar?

The current guideline value of Chakaravarthi Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting at Rs 135 per sq.ft in 2007, rising to Rs 500 per sq.ft in 2012, then dropping to Rs 335 per sq.ft in 2017, and finally returning to Rs 500 per sq.ft in 2023 and 2024.

Which Sub Registrar Office covers Chakaravarthi Nagar?

The Gooduvancheri Sub Registrar Office covers Chakaravarthi Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

What are the stamp duty and registration fees for properties in Chakaravarthi Nagar?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are based on the guideline value or sale price, whichever is higher.

What is the land classification for Chakaravarthi Nagar?

Chakaravarthi Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.