Guideline Value for Chakratees Street

Chakratees Street guideline value

The current guideline value of Chakratees Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Chakratees Street has changed

The guideline value for Chakratees Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure remained the same until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft. However, in 2023, the value increased significantly to Rs 1,500 per sq.ft, and further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for Chakratees Street.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current guideline value for Chakratees Street.

• Chakrapani Street: Rs 1,100 per sq.ft (2024)
• Chandran Avenue: Rs 2,750 per sq.ft (2024)
• Cauvery Street: Rs 2,750 per sq.ft (2024)
• Buddhar Street: Rs 2,750 per sq.ft (2024)
• Chithambaranar St: Rs 1,650 per sq.ft (2024)
• Chitlapakkam IIIrd Main Road ( Thirumurugan Salai ): Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Chakratees Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, these fees total Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chakratees Street?

The Sub Registrar Office that covers Chakratees Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration of property transactions. Buyers and sellers must ensure that the sale price is equal to or higher than the guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value is referenced to assess the appropriate fees. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction process and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Chakratees Street?

The current guideline value of Chakratees Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Chakratees Street?

The land classification for Chakratees Street is Residential Class I Type - III.

Where can I find the Sub Registrar Office for Chakratees Street?

The Sub Registrar Office for Chakratees Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Chakratees Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,15,500 at 7%.