Guideline Value for Chakrapani Nagar 14th Street

Chakrapani Nagar 14th Street guideline value

The current guideline value for Chakrapani Nagar 14th 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 14th Street has changed

The guideline value for Chakrapani Nagar 14th Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 302 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, followed by a substantial rise to Rs 3,250 per sq.ft in 2012. However, there was a decrease to Rs 2,177 per sq.ft in 2017. The value then rose to Rs 3,250 per sq.ft in 2023 before reaching the current figure of Rs 3,600 per sq.ft in 2024.

In terms of percentage changes, the value increased by 99% from 2003 to 2007, followed by a 442% increase from 2007 to 2012. However, there was a 33% decrease from 2012 to 2017. The value then saw a 49% increase from 2017 to 2023, and finally, an 11% increase from 2023 to 2024. The register has no figure for this street in 2002.

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 14th Street's 2024 figure above that median.

• Chakrapani Nagar 13th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 15th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 12th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 1st Cross Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 11th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 1st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Chakrapani Nagar 14th 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 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chakrapani Nagar 14th Street?

The Sub Registrar Office that covers Chakrapani Nagar 14th 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 when registering property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is registered, the guideline value serves as a reference point for calculating these fees. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the appropriate fees are collected during the registration process.

Frequently asked questions

What is the current guideline value of Chakrapani Nagar 14th Street?

The current guideline value of Chakrapani Nagar 14th 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 302 per sq.ft in 2003 to Rs 3,600 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Chakrapani Nagar 14th Street?

Chakrapani Nagar 14th Street is classified as Residential Class I Type - II.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 36,00,000, resulting in a stamp duty of Rs 2,52,000 and a registration fee of Rs 72,000, totaling Rs 3,24,000.

Which Sub Registrar Office handles registrations for this street?

The Virugambakkam Sub Registrar Office handles registrations for Chakrapani Nagar 14th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.