Guideline Value for Chandra Bose Nagar

Chandra Bose Nagar guideline value

The current guideline value of Chandra Bose Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Chandra Bose Nagar has changed

The guideline value for Chandra Bose Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, an increase from Rs 1,600 per sq.ft in 2023, marking a 6% rise. Prior to that, in 2017, the value was Rs 1,072 per sq.ft, reflecting a significant increase of 49% by 2023. The 2012 revision recorded a value of Rs 1,600 per sq.ft, which was a decrease of 33% from the 2017 figure. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 6%. This indicates a steady adjustment in property values over the years, with the latest figure being Rs 1,700 per sq.ft.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. Chandra Bose Nagar's 2024 figure is below this median.

• Chandra Prabhu Nagar: Rs 1,700 per sq.ft (2024)
• Chandra Prabhu Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Chandra Prabhu Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Chandra Prabhu Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Chandra Prabhu Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Chairman Thambu Reddiyar Colony Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Chandra Bose Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 details.

Which Sub Registrar Office covers Chandra Bose Nagar?

The Sub Registrar Office that covers Chandra Bose Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

During the registration process, the guideline value serves as a reference point for both buyers and sellers, helping to establish a fair transaction value. It is essential to be aware of the current guideline values to avoid any discrepancies during the registration of property.

Frequently asked questions

What is the current guideline value of Chandra Bose Nagar?

The current guideline value of Chandra Bose Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, a 6% increase. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, while Chandra Bose Nagar's 2024 figure is below this median.

What are the stamp duty and registration fees for properties in Chandra Bose Nagar?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations in Chandra Bose Nagar?

The Selaiyur Sub Registrar Office handles property registrations for Chandra Bose Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.