Guideline Value for Chakrapani Nagar 12th Street

Chakrapani Nagar 12th Street guideline value

The current guideline value of Chakrapani Nagar 12th Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Chakrapani Nagar 12th Street has changed

The guideline value for Chakrapani Nagar 12th Street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,250 per sq.ft in 2012. However, this figure dropped to Rs 2,177 per sq.ft in 2017. The 2023 revision saw an increase to Rs 3,250 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,600 per sq.ft, marking an 11% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 500%. The register does not have figures for the years 2002 and 2003 for this street.

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 is Rs 3,050 per sq.ft, placing Chakrapani Nagar 12th Street's 2024 figure above this median.

• Chakrapani Nagar 11th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 13th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 10th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 14th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 15th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 1st Cross Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chakrapani Nagar 12th 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, while the registration fee at 2% would be Rs 72,000, bringing the total cost together to Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chakrapani Nagar 12th Street?

The Sub Registrar Office that covers Chakrapani Nagar 12th 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 plays a crucial role in property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must consider this value to understand the costs associated with purchasing or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Chakrapani Nagar 12th Street?

The current guideline value of Chakrapani Nagar 12th 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 600 per sq.ft in 2007 to Rs 3,600 per sq.ft in 2024, marking a significant increase of 500% overall.

What are the stamp duty and registration fees for properties in this area?

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 Sub Registrar Office handles registrations for Chakrapani Nagar 12th Street?

The Virugambakkam Sub Registrar Office handles registrations for Chakrapani Nagar 12th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Chakrapani Nagar 12th Street?

The land classification for Chakrapani Nagar 12th Street is Residential Class I Type - II, indicating its suitability for residential purposes.