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Guideline Value

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Guideline Value for Chakrapani Nagar 2nd Cross Street

₹3600/sq.ft.

The guideline value for Chakrapani Nagar 2nd Cross Street in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 3600 per sq.ft, effective 1 July 2024. It was Rs 3250 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹3600 /sq.ft.
From 1-4-2023 ₹3250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2177 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3250 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹600 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Chakrapani Nagar 2nd Cross Street

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Chakrapani Nagar 2nd Cross Street guideline value

The current guideline value of Chakrapani Nagar 2nd Cross 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 2nd Cross Street has changed

The guideline value for Chakrapani Nagar 2nd Cross Street has experienced 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, there was a decrease to Rs 2,177 per sq.ft in 2017. Following this, the value rose to Rs 3,250 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,600 per sq.ft. The overall change from 2007 to 2024 reflects an increase of 500%.

From 2012 to 2017, the value decreased by 33%. However, the period from 2017 to 2023 saw a substantial increase of 49%. The jump from 2023 to 2024 represents an 11% increase. It is important to note that there are no figures available 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 guideline value for 2024, 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 2nd Cross Street's current value above this median.

Stamp duty and registration fee for property in Chakrapani Nagar 2nd Cross 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, while the registration fee at 2% would be Rs 72,000. Together, the total charges would be Rs 3,24,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chakrapani Nagar 2nd Cross Street?

The Sub Registrar Office that covers Chakrapani Nagar 2nd Cross 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 critical factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the total fees, ensuring that the transaction is recorded at an official value, which is necessary for legal and taxation purposes.

Frequently asked questions

What is the current guideline value of Chakrapani Nagar 2nd Cross Street?

The current guideline value of Chakrapani Nagar 2nd Cross 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, reflecting an overall increase of 500% over the years.

What is the land classification for Chakrapani Nagar 2nd Cross Street?

Chakrapani Nagar 2nd Cross Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Chakrapani Nagar 2nd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Chakrapani Nagar 2nd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 36,00,000, the stamp duty at 7% would be Rs 2,52,000.