Guideline Value for Chakrapani Nagar 15th Street

Chakrapani Nagar 15th Street guideline value

The current guideline value of Chakrapani Nagar 15th 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 15th Street has changed

The guideline value for Chakrapani Nagar 15th Street has seen several revisions over the years. The earliest recorded figure is from 2003, with a guideline value of Rs 301 per sq.ft. This value increased significantly to Rs 600 per sq.ft in 2007, marking a 99% increase. The value then rose dramatically to Rs 3,250 per sq.ft in 2012, which was a 442% increase from the previous revision. However, it dropped to Rs 2,177 per sq.ft in 2017, reflecting a decrease of 33%.

In 2023, the guideline value was revised to Rs 3,250 per sq.ft, and then it increased by 11% to the current rate of Rs 3,600 per sq.ft as of July 2024. Overall, from 2003 to 2024, the guideline value has increased by 1,096%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value in this area is Rs 3,050 per sq.ft, placing Chakrapani Nagar 15th Street above this median.

• Chakrapani Nagar 14th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 1st Cross Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 13th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Chakrapani Nagar 12th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 2nd Cross Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chakrapani Nagar 15th 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 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. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Chakrapani Nagar 15th Street?

The Sub Registrar Office that covers Chakrapani Nagar 15th 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 an essential factor during the registration of property transactions in Maduravoyal. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that all property transactions are recorded accurately and fairly.

Frequently asked questions

What is the current guideline value of Chakrapani Nagar 15th Street?

The current guideline value of Chakrapani Nagar 15th 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 significantly, increasing from Rs 301 per sq.ft in 2003 to Rs 3,600 per sq.ft in 2024, which is an overall increase of 1,096%.

What are the guideline values of other streets in Maduravoyal?

Other streets in Maduravoyal have varying guideline values, with rates ranging from Rs 2,200 to Rs 6,050 per sq.ft, and the median being Rs 3,050 per sq.ft.

What are the stamp duty and registration fees for property in Chakrapani Nagar 15th Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,24,000.

Which office handles property registrations for Chakrapani Nagar 15th Street?

The Virugambakkam Sub Registrar Office handles property registrations for Chakrapani Nagar 15th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.