Guideline Value for Chandran Devanesan Lane

Chandran Devanesan Lane guideline value

The current guideline value of Chandran Devanesan Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Chandran Devanesan Lane has changed

The guideline value for Chandran Devanesan Lane has seen significant changes over the years. In 2002, the guideline value was Rs 293 per sq.ft. This figure increased to Rs 361 per sq.ft in 2003, marking a rise of 23%. The value continued to rise, reaching Rs 500 per sq.ft in 2007, which was a substantial increase of 39%. By 2012, the guideline value had jumped to Rs 2,000 per sq.ft, reflecting a remarkable growth of 300% from the previous figure.

From 2012 to 2017, however, the guideline value decreased to Rs 1,340 per sq.ft, a decline of 33%. The value then increased again to Rs 2,000 per sq.ft in 2023, and most recently, it rose to Rs 2,200 per sq.ft in 2024, representing a 10% increase. The overall change from 2002 to 2024 is an increase of 651%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Chandran Devanesan Lane is below this median.

• Chandran Devanesan Street: Rs 2,200 per sq.ft (2024)
• Chandrapathy Nagar: Rs 1,320 per sq.ft (2024)
• Chandrapuri Nagar: Rs 2,200 per sq.ft (2024)
• Cenwar Nagar: Rs 2,200 per sq.ft (2024)
• Brindavan Nagar: Rs 2,200 per sq.ft (2024)
• Brindavan Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chandran Devanesan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chandran Devanesan Lane?

The Sub Registrar Office that covers Chandran Devanesan Lane is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers must consider this value to understand the financial implications of their property deals.

Frequently asked questions

What is the current guideline value of Chandran Devanesan Lane?

The current guideline value of Chandran Devanesan Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 293 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 651% over this period.

What is the land classification for Chandran Devanesan Lane?

Chandran Devanesan Lane is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in this lane?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Chandran Devanesan Lane is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.