Guideline Value for Chakrapani Nagar 4th Cross Street

Chakrapani Nagar 4th Cross Street guideline value

The current guideline value of Chakrapani Nagar 4th 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 4th Cross Street has changed

Over the years, the guideline value of Chakrapani Nagar 4th Cross Street has seen significant changes. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 3,250 per sq.ft in 2012. However, it then decreased to Rs 2,177 per sq.ft in 2017. The value rose again to Rs 3,250 per sq.ft in 2023, and most recently, it has increased to Rs 3,600 per sq.ft in 2024, marking an 11% rise from the previous year.

From 2017 to 2023, there was a substantial increase of 49%, while the period from 2012 to 2017 saw a decrease of 33%. The most notable increase occurred between 2007 and 2012, where the value surged by 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 that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value of Chakrapani Nagar 4th Cross Street is above this median.

• Chakrapani Nagar 3rd Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 4th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 3nd Cross Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 5th Cross Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 2nd Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 5th Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chakrapani Nagar 4th 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, charged at 7%, would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, resulting in a total of 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chakrapani Nagar 4th Cross Street?

The Chakrapani Nagar 4th Cross Street falls under the jurisdiction of 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 when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Chakrapani Nagar 4th Cross Street?

The current guideline value of Chakrapani Nagar 4th 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 an overall increase of 500% over this period.

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 handles registrations for this street?

The Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, covers Chakrapani Nagar 4th Cross Street.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to know the current guideline value to ensure compliance with legal requirements.