Guideline Value for Chakra Nagar Part IV

Chakra Nagar Part IV guideline value

The current guideline value of Chakra Nagar Part IV is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Chakra Nagar Part IV has changed

The guideline value for Chakra Nagar Part IV has undergone several revisions over the years. In 2017, the guideline value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, which is a further increase of 10% from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. Chakra Nagar Part IV's current figure of Rs 2,200 per sq.ft is above the median value of Rs 1,870 per sq.ft for the area.

• Chakra Nagar part I: Rs 2,200 per sq.ft (2024)
• Chakra Nagar: Rs 2,200 per sq.ft (2024)
• Bruel Ground Road: Rs 2,200 per sq.ft (2024)
• Chinna Mangadu IInd Street: Rs 1,870 per sq.ft (2024)
• Chinna Mangadu Ist Street: Rs 1,870 per sq.ft (2024)
• Chinna Mangadu Met Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Chakra Nagar Part IV

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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, bringing the total cost together to 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.

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

Which Sub Registrar Office covers Chakra Nagar Part IV?

The Chakra Nagar Part IV area falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor in property transactions in Mangadu -A, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid to the government.

It is essential for buyers and sellers to be aware of the current guideline value to ensure that they comply with legal requirements during the registration process. This value helps in establishing a transparent transaction between the involved parties.

Frequently asked questions

What is the current guideline value of Chakra Nagar Part IV?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the land classification of Chakra Nagar Part IV?

Chakra Nagar Part IV is classified as Residential Special Type - I under the land classification system.

Where can I find the registration office for Chakra Nagar Part IV?

The registration office for Chakra Nagar Part IV is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Chakra Nagar Part IV?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a total guideline value of Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.