Guideline Value for Chakrapani Nagar 3nd Cross Street

Chakrapani Nagar 3nd Cross Street guideline value

The current guideline value for Chakrapani Nagar 3nd 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 falls under the Residential Class I Type - II land classification.

How the guideline value of Chakrapani Nagar 3nd Cross Street has changed

The guideline value for Chakrapani Nagar 3nd Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2007, with a value of Rs 600 per sq.ft. This increased significantly to Rs 3,250 per sq.ft in 2012, but then saw a decline to Rs 2,177 per sq.ft in 2017. The value rebounded to Rs 3,250 per sq.ft in 2023, and most recently, it has risen to Rs 3,600 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2012 to 2017 was a decrease of 33%. The substantial rise from 2007 to 2012 was 442%. Overall, from 2007 to 2024, the guideline value has increased by 500%. The register has no figures for the years 2002 and 2003 for this street.

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 as of 2024. The median guideline value in this area is Rs 3,050 per sq.ft, indicating that Chakrapani Nagar 3nd Cross Street's current value is above this median.

• Chakrapani Nagar 2nd Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 3rd Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 2nd Cross Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 4th Cross Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Chakrapani Nagar 4th Street: Rs 3,600 per sq.ft (2024)

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

You can use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Chakrapani Nagar 3nd Cross Street?

The Sub Registrar Office covering Chakrapani Nagar 3nd 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Maduravoyal. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the financial obligations during the registration process. This value is determined by the government and is subject to periodic revisions, reflecting changes in the local real estate market.

Frequently asked questions

What is the current guideline value for Chakrapani Nagar 3nd Cross Street?

The current guideline value for Chakrapani Nagar 3nd 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 significantly from Rs 600 per sq.ft in 2007 to Rs 3,600 per sq.ft in 2024, showing a total increase of 500% over the years.

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 covers this street?

The Virugambakkam Sub Registrar Office covers Chakrapani Nagar 3nd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Chakrapani Nagar 3nd Cross Street?

The land classification for Chakrapani Nagar 3nd Cross Street is Residential Class I Type - II.