Guideline Value for Chandran Nagar 3rd Cross Street

Chandran Nagar 3rd Cross Street guideline value

The current guideline value of Chandran Nagar 3rd Cross Street is Rs 2,860 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village and falls under the Pammal SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Chandran Nagar 3rd Cross Street has changed

The guideline value for Chandran Nagar 3rd Cross Street has seen significant changes over the years. The 2017 revision set the value at Rs 1,742 per sq.ft. This figure increased to Rs 2,600 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 brought the guideline value to Rs 2,860 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, making the 2024 figure for Chandran Nagar 3rd Cross Street above this median.

• Chandran Nagar 2nd Cross Street: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 4th Cross Street: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 1st Cross Street: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 5th Cross Street: Rs 2,860 per sq.ft (2024)
• Chandran Nagar Main Road: Rs 2,860 per sq.ft (2024)
• Chandran Nagar: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Chandran Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, while the registration fee at 2% would be Rs 57,200. Together, the total cost for stamp duty and registration fee would be Rs 2,57,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chandran Nagar 3rd Cross Street?

The Sub Registrar Office that covers Chandran Nagar 3rd Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Thiruneermalai

The guideline value is a critical factor in property transactions in Thiruneermalai. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees. Buyers and sellers must consider this value when negotiating sale prices.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is legally recognized and that all dues are cleared as per government regulations.

Frequently asked questions

What is the current guideline value of Chandran Nagar 3rd Cross Street?

The current guideline value of Chandran Nagar 3rd Cross Street is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,742 per sq.ft in 2017 to Rs 2,600 per sq.ft in 2023, and then to Rs 2,860 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the land classification for Chandran Nagar 3rd Cross Street?

The land classification for Chandran Nagar 3rd Cross Street is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Chandran Nagar 3rd Cross Street?

The Sub Registrar Office for Chandran Nagar 3rd Cross Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Thiruneermalai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 28,60,000 would incur a stamp duty of Rs 2,00,200 at a rate of 7%.