Guideline Value for Chandrabose Nagar

Chandrabose Nagar guideline value

The current guideline value of Chandrabose Nagar, located in Thandalkazhani village under the Redhills SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Chandrabose Nagar has changed

The guideline value for Chandrabose Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 352 per sq.ft. This increased to Rs 36 per sq.ft in 2003, followed by a significant rise to Rs 300 per sq.ft in 2007. The value then jumped to Rs 800 per sq.ft in 2012, but decreased to Rs 536 per sq.ft in 2017. The value increased again to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

Examining the changes, from 2002 to 2003, there was a decrease of 90%. From 2003 to 2007, the value increased by 733%. The value then rose by 167% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 150%.

Guideline values in Thandalkazhani

In Thandalkazhani, there are 27 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 660 to Rs 2,750 per sq.ft. The median guideline value is Rs 880 per sq.ft, which is equal to the current value for Chandrabose Nagar.

• Bye Pass Road: Rs 2,750 per sq.ft (2024)
• Dr. M. Varadaharasanar Street: Rs 880 per sq.ft (2024)
• Gandhi Street: Rs 1,210 per sq.ft (2024)
• Gnt Road: Rs 2,750 per sq.ft (2024)
• Gomathi Nagar In Sivaram city: Rs 2,750 per sq.ft (2024)
• Kamarajar Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Chandrabose Nagar

For a 1,000 sq.ft plot at the current guideline value, the total value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total cost for these fees Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chandrabose Nagar?

The Sub Registrar Office that covers Chandrabose Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Thandalkazhani. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When purchasing property, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Chandrabose Nagar?

The current guideline value of Chandrabose Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 352 per sq.ft in 2002 to Rs 880 per sq.ft in 2024, reflecting various increases and decreases over the years.

What are the stamp duty and registration fees for property in Chandrabose Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 79,200.

Which Sub Registrar Office covers Chandrabose Nagar?

The Redhills Sub Registrar Office covers Chandrabose Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Chandrabose Nagar?

Chandrabose Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes within the local planning framework.