Guideline Value for Chakrapani Nagar 4th Street

Chakrapani Nagar 4th Street guideline value

The current guideline value of Chakrapani Nagar 4th Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO and falls under the Residential Class I Type - II land classification.

How the guideline value of Chakrapani Nagar 4th Street has changed

The guideline value for Chakrapani Nagar 4th Street has seen several revisions over the years. Starting from Rs 275 per sq.ft in 2002, it increased to Rs 301 per sq.ft in 2003. The value then rose significantly to Rs 600 per sq.ft in 2007, followed by a sharp increase to Rs 3,250 per sq.ft in 2012. However, it dropped to Rs 2,177 per sq.ft in 2017 before climbing back to Rs 3,250 per sq.ft in 2023. The latest revision in 2024 sets the value at Rs 3,600 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2024, the overall increase is +1209%. The jump from 2017 to 2023 was +49%, while the change from 2012 to 2017 was a decrease of -33%. The most significant rise occurred from 2007 to 2012, with an increase of +442%, and from 2003 to 2007, which saw an increase of +99%. The change from 2023 to 2024 is +11%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, placing Chakrapani Nagar 4th Street above this median.

• Chakrapani Nagar 4th Cross Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 5th Cross Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 3rd Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 5th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 3nd Cross Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 6th Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chakrapani Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total fees together to Rs 3,24,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chakrapani Nagar 4th Street?

The Sub Registrar Office that covers Chakrapani Nagar 4th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Maduravoyal. It helps determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are conducted fairly and transparently.

When a property is sold, the guideline value is used as a baseline for calculating the applicable fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Chakrapani Nagar 4th Street?

The current guideline value of Chakrapani Nagar 4th Street is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 275 per sq.ft in 2002 to Rs 3,600 per sq.ft in 2024, showing an overall increase of +1209% over this period.

What are the other streets in Maduravoyal with the same guideline value?

Several other streets in Maduravoyal have the same guideline value of Rs 3,600 per sq.ft for 2024, including Chakrapani Nagar 4th Cross Street, Chakrapani Nagar 5th Cross Street, Chakrapani Nagar 3rd Street, Chakrapani Nagar 5th Street, Chakrapani Nagar 3nd Cross Street, and Chakrapani Nagar 6th Street.

What are the stamp duty and registration fees for property in Chakrapani Nagar 4th Street?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,24,000.

Where is the Sub Registrar Office for Chakrapani Nagar 4th Street located?

The Sub Registrar Office for Chakrapani Nagar 4th Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.