Guideline Value for Chakrapani Nagar 6th Street

Chakrapani Nagar 6th Street guideline value

The current guideline value of Chakrapani Nagar 6th 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 it falls under the Residential Class I Type - II land classification.

How the guideline value of Chakrapani Nagar 6th Street has changed

The guideline value for Chakrapani Nagar 6th Street has seen significant changes over the years. In 2002, the value was Rs 275 per sq.ft, which increased to Rs 301 per sq.ft in 2003. Following this, there was a notable rise to Rs 600 per sq.ft in 2007, and then a substantial jump to Rs 3,250 per sq.ft in 2012. However, this figure decreased to Rs 2,177 per sq.ft in 2017. The value then rose again to Rs 3,250 per sq.ft in 2023 before reaching the current rate of Rs 3,600 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 9% from 2002 to 2003, followed by a 99% rise from 2003 to 2007. The value then saw a dramatic increase of 442% from 2007 to 2012. After a decline of 33% from 2012 to 2017, there was a 49% increase from 2017 to 2023, and finally, an 11% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1209%.

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, making Chakrapani Nagar 6th Street's 2024 figure above this median.

• Chakrapani Nagar 5th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 7th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 5th Cross Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 8th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 4th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 9th Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chakrapani Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total cost for these fees to Rs 3,24,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chakrapani Nagar 6th Street?

The Sub Registrar Office that covers Chakrapani Nagar 6th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a value that reflects the current market conditions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transaction. These fees are based on the guideline value or the sale price, whichever is higher, thereby ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Chakrapani Nagar 6th Street?

The current guideline value of Chakrapani Nagar 6th Street is Rs 3,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 and the registration fee would be Rs 72,000, totaling Rs 3,24,000.

Which office handles the registration for Chakrapani Nagar 6th Street?

The Virugambakkam Sub Registrar Office handles the registration for Chakrapani Nagar 6th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Maduravoyal?

The median guideline value for streets in Maduravoyal is Rs 3,050 per sq.ft, with Chakrapani Nagar 6th Street's current value being above this median at Rs 3,600 per sq.ft.