Guideline Value for Chakrapani Nagar 13th Street

Chakrapani Nagar 13th Street guideline value

The current guideline value of Chakrapani Nagar 13th 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 is classified as Residential Class I Type - II.

How the guideline value of Chakrapani Nagar 13th Street has changed

The guideline value for Chakrapani Nagar 13th Street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which saw a significant increase to Rs 3,250 per sq.ft in 2012. However, this figure decreased to Rs 2,177 per sq.ft in 2017. The 2023 revision marked a rise to Rs 3,250 per sq.ft, followed by the current value of Rs 3,600 per sq.ft from the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 reflects an 11% rise. The period from 2007 to 2012 saw a drastic increase of 442%, followed by a decrease of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value is Rs 3,050 per sq.ft, placing Chakrapani Nagar 13th Street's 2024 figure above this median.

• Chakrapani Nagar 12th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 14th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 11th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 15th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 10th 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 13th 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 fees 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chakrapani Nagar 13th Street?

The Sub Registrar Office that covers Chakrapani Nagar 13th 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Chakrapani Nagar 13th Street?

The current guideline value of Chakrapani Nagar 13th 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 increased from Rs 600 per sq.ft in 2007 to Rs 3,600 per sq.ft in 2024. Significant changes include a rise of 442% from 2007 to 2012 and a 49% increase from 2017 to 2023.

What are the stamp duty and registration fees for properties in Chakrapani Nagar 13th Street?

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. These fees are based on the higher of the guideline value or the sale price.

Which office handles the registration for Chakrapani Nagar 13th Street?

The Virugambakkam Sub Registrar Office handles the registration for Chakrapani Nagar 13th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Chakrapani Nagar 13th Street?

Chakrapani Nagar 13th Street is classified as Residential Class I Type - II, indicating its suitability for residential development.