Guideline Value for Chandra Nagar

Chandra Nagar guideline value

The current guideline value of Chandra Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Chandra Nagar has changed

Over the years, the guideline value of Chandra Nagar has seen several revisions. The earliest recorded revision was in 2003, with a guideline value of Rs 128 per sq.ft. This figure increased significantly to Rs 600 per sq.ft in 2007, marking a 369% rise. In 2012, the value reached Rs 2,000 per sq.ft, reflecting a 233% increase from the previous revision. However, this value decreased by 33% to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, followed by the current revision of Rs 2,100 per sq.ft in 2024, which is a 5% increase from the previous year.

The overall change from 2003 to 2024 shows a remarkable increase of 1541%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for the village is Rs 3,300 per sq.ft, indicating that Chandra Nagar's 2024 figure is below this median.

• Chambers Colony Kothandam Nagar 1,2,3,4,5: Rs 3,300 per sq.ft (2024)
• Chambers Colony 7b Street: Rs 3,300 per sq.ft (2024)
• Chambers Colony 1 To 11 Streets: Rs 3,300 per sq.ft (2024)
• Chambers Colony 11th Street Extn: Rs 3,300 per sq.ft (2024)
• Chandrasekaran Street: Rs 3,850 per sq.ft (2024)
• Chavadi Street: Rs 4,400 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 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, totaling Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chandra Nagar?

The Sub Registrar Office that covers Chandra Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Zaminpallavaram. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from property transactions. Buyers and sellers must consider the guideline value when negotiating sale prices, as it affects the stamp duty and registration fees payable during the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the government receives the necessary fees associated with property transfers.

Frequently asked questions

What is the current guideline value of Chandra Nagar?

The current guideline value of Chandra Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 128 per sq.ft in 2003 to Rs 2,100 per sq.ft in 2024, showing an overall increase of 1541% over the years.

What is the median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft, indicating that Chandra Nagar's value is below this median.

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

For a property valued at Rs 21,00,000, the stamp duty is Rs 1,47,000, and the registration fee is Rs 42,000, totaling Rs 1,89,000.

Which office handles registrations for Chandra Nagar?

The Pallavaram Sub Registrar Office handles registrations for Chandra Nagar, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.