Guideline Value for Chandra Prabhu Nagar 3rd Street

Chandra Prabhu Nagar 3rd Street guideline value

The current guideline value of Chandra Prabhu Nagar 3rd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Chandra Prabhu Nagar 3rd Street has changed

The guideline value for Chandra Prabhu Nagar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,072 per sq.ft. Following that, the value increased significantly to Rs 1,600 per sq.ft in the 2023 revision, and then to Rs 1,700 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 6%. Notably, the jump from Rs 1,072 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2023 represents a substantial increase of 49%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

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. The median value for these streets is Rs 2,400 per sq.ft, indicating that Chandra Prabhu Nagar 3rd Street's 2024 figure is below this median.

• Chandra Prabhu Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Chandra Prabhu Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Chandra Prabhu Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Chandra Prabhu Nagar: 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 3rd 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 at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. Please 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 detailed calculations.

Which Sub Registrar Office covers Chandra Prabhu Nagar 3rd Street?

The Chandra Prabhu Nagar 3rd Street falls under 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. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process for 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 appropriate revenue from property sales.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Chandra Prabhu Nagar 3rd Street?

The current guideline value of Chandra Prabhu Nagar 3rd 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 changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

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.

Which office handles registrations for Chandra Prabhu Nagar 3rd Street?

The Selaiyur Sub Registrar Office handles registrations for Chandra Prabhu Nagar 3rd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

What is the land classification for Chandra Prabhu Nagar 3rd Street?

Chandra Prabhu Nagar 3rd Street is classified as Residential Class I Type - II, indicating its suitability for residential development.