Guideline Value for Chand Nagar

Chand Nagar guideline value

The current guideline value of Chand Nagar, located in Ayakolathur village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Chand Nagar has changed

The guideline value for Chand Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 70 per sq.ft. This figure increased significantly to Rs 300 per sq.ft in 2012, marking a 329% rise. However, it dropped to Rs 201 per sq.ft in 2017, a decrease of 33%. The value then remained stable at Rs 300 per sq.ft in both the 2023 and 2024 revisions, showing no change from 2023 to 2024.

Overall, from 2007 to 2024, the guideline value has increased by 329%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Ayakolathur

In Ayakolathur, there are 15 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 700 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value of Chand Nagar is above this median.

• Bajanai Koil Street: Rs 300 per sq.ft (2024)
• Anna Street: Rs 200 per sq.ft (2024)
• Ambedhkar Street: Rs 100 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 300 per sq.ft (2024)
• Kakkajji Street: Rs 150 per sq.ft (2024)
• Main Road: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Chand Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. 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 precise calculations.

Which Sub Registrar Office covers Chand Nagar?

The Sub Registrar Office that covers Chand Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ayakolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chand Nagar?

The current guideline value of Chand Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 70 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then dropping to Rs 201 per sq.ft in 2017, and remaining at Rs 300 per sq.ft in 2023 and 2024.

What are the guideline values of other streets in Ayakolathur?

Other streets in Ayakolathur have varying guideline values, with rates ranging from Rs 100 to Rs 700 per sq.ft. Some notable streets include Bajanai Koil Street and Jayalakshmi Nagar, both at Rs 300 per sq.ft in 2024.

What is the stamp duty rate for property in Chand Nagar?

The stamp duty rate for property transactions in Chand Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Chand Nagar located?

The Sub Registrar Office for Chand Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.