Guideline Value for Chakkrapani Nagar Extn

Chakkrapani Nagar Extn guideline value

The current guideline value of Chakkrapani Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Chakkrapani Nagar Extn has changed

In the 2017 revision, the guideline value for Chakkrapani Nagar Extn was Rs 1,340 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 saw another increase to Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kerugambakkam

Kerugambakkam village has a total of 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the guideline value for Chakkrapani Nagar Extn.

• Chakkrapani Nagar: Rs 2,750 per sq.ft (2024)
• C.B.Nagar: Rs 2,200 per sq.ft (2024)
• B.T.Nagar Extn: Rs 2,750 per sq.ft (2024)
• B.T.Nagar: Rs 2,750 per sq.ft (2024)
• Bst's Sarada City: Rs 2,860 per sq.ft (2024)
• Boomadevi Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Chakkrapani Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Chakkrapani Nagar Extn?

The Chakkrapani Nagar Extn area falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Kerugambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during registration.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Chakkrapani Nagar Extn?

The current guideline value of Chakkrapani Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, marking a total increase of 64% over the years.

What is the registration office for Chakkrapani Nagar Extn?

The registration office for Chakkrapani Nagar Extn is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Chakkrapani Nagar Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.

What are the other streets in Kerugambakkam with guideline values?

Other streets in Kerugambakkam include Chakkrapani Nagar, C.B.Nagar, B.T.Nagar Extn, B.T.Nagar, Bst's Sarada City, and Boomadevi Nagar, with guideline values ranging from Rs 2,200 to Rs 2,860 per sq.ft.