Guideline Value for Chandra Prabhu Nagar 2nd Street

Chandra Prabhu Nagar 2nd Street guideline value

The current guideline value of Chandra Prabhu Nagar 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Chandra Prabhu Nagar 2nd Street has changed

The guideline value for Chandra Prabhu Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,600 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,700 per sq.ft, representing a 6% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 6%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Chandra Prabhu Nagar 2nd Street's 2024 value below the median.

• Chandra Prabhu Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Chandra Prabhu Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Chandra Prabhu Nagar: Rs 1,700 per sq.ft (2024)
• Chandra Prabhu Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Chandra Bose Nagar: 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 Prabhu Nagar 2nd Street

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, charged at 7%, would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total fees would amount to Rs 1,53,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chandra Prabhu Nagar 2nd Street?

The Sub Registrar Office covering Chandra Prabhu Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in 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 critical factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it can impact the overall cost of the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Chandra Prabhu Nagar 2nd Street?

The current guideline value of Chandra Prabhu Nagar 2nd Street 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 seen several changes, with the most recent increase from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, which is a 6% increase. The value decreased from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, before rising again.

What are the stamp duty and registration fees for properties in this area?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification of Chandra Prabhu Nagar 2nd Street?

Chandra Prabhu Nagar 2nd Street is classified as Residential Class I Type - II, indicating its suitability for residential development.