Guideline Value for Chandran Nagar 5th Cross Street

Chandran Nagar 5th Cross Street guideline value

The current guideline value of Chandran Nagar 5th Cross Street is Rs 2,860 per sq.ft. This street is located in Thiruneermalai village, under the Pammal SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Chandran Nagar 5th Cross Street has changed

The guideline value for Chandran Nagar 5th Cross Street has seen several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 1,742 per sq.ft. This increased to Rs 2,600 per sq.ft in the 2023 revision, marking a significant increase of 49%. The most recent revision in 2024 set the value at Rs 2,860 per sq.ft, which reflects a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value among these streets is Rs 2,420 per sq.ft, and the guideline value for Chandran Nagar 5th Cross Street is above this median.

• Chandran Nagar 4th Cross Street: Rs 2,860 per sq.ft (2024)
• Chandran Nagar Main Road: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 3rd Cross Street: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 2nd Cross Street: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 1st Cross Street: 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 5th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,860 per sq.ft, the guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total to 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.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Chandran Nagar 5th Cross Street?

The Sub Registrar Office that covers Chandran Nagar 5th 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 crucial factor during the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property, which can influence negotiations and final sale agreements. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chandran Nagar 5th Cross Street?

The current guideline value of Chandran Nagar 5th 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 an overall increase of 64% from 2017 to 2024.

What is the land classification for Chandran Nagar 5th Cross Street?

The land classification for Chandran Nagar 5th Cross Street is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for this area?

The registration office for Chandran Nagar 5th Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in this area?

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