Guideline Value for Chandra Nagar

Chandra Nagar guideline value

The current guideline value of Chandra Nagar, located in Mogalivakkam village under the Kunrathur SRO, is Rs 2,860 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Chandra Nagar has changed

The guideline value for Chandra Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,600 per sq.ft in 2012. However, it dropped to Rs 1,742 per sq.ft in 2017. The 2023 revision set the value at Rs 2,600 per sq.ft, and the most recent revision in 2024 increased it to Rs 2,860 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, followed by a further increase of 10% from 2023 to 2024. The overall change from 2007 to 2024 reflects a substantial increase of 377% in the guideline value.

Guideline values in Mogalivakkam

Mogalivakkam village has a total of 98 streets under the Kunrathur SRO, with guideline values ranging from Rs 2,530 to Rs 6,600 per sq.ft as of 2024. The median guideline value for the village is Rs 2,970 per sq.ft, placing Chandra Nagar's current value below this median.

• Brindavan Garden: Rs 2,970 per sq.ft (2024)
• Dhanam Nagar: Rs 2,860 per sq.ft (2024)
• Balaji Avenue: Rs 2,860 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,970 per sq.ft (2024)
• Eswaran Koil Street: Rs 2,530 per sq.ft (2024)
• E.V.P. Rathi Avenue: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Chandra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total fees to Rs 2,57,400. 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 further calculations.

Which Sub Registrar Office covers Chandra Nagar?

The Sub Registrar Office that covers Chandra Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mogalivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer approaches the registration office, the guideline value is used to calculate the applicable fees, ensuring that all transactions are recorded accurately and transparently. This helps maintain a standard across property transactions within the region.

Frequently asked questions

What is the current guideline value of Chandra Nagar?

The current guideline value of Chandra Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 377% over this period.

What is the land classification for Chandra Nagar?

The land classification for Chandra Nagar is Residential Special Type - II, indicating its designated use for residential purposes.

What are the other streets in Mogalivakkam with their guideline values?

Other streets in Mogalivakkam include Brindavan Garden at Rs 2,970 per sq.ft, Dhanam Nagar and Balaji Avenue both at Rs 2,860 per sq.ft, and Eswaran Koil Street and E.V.P. Rathi Avenue both at Rs 2,530 per sq.ft.

Where can I find the Sub Registrar Office for Chandra Nagar?

The Sub Registrar Office for Chandra Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details on their location through the provided link.