Guideline Value for Chandran Nagar

Chandran Nagar guideline value

The current guideline value of Chandran Nagar in Thiruneermalai village is Rs 2,860 per sq.ft, effective from 1 July 2024. This area falls under the Pammal Sub Registrar Office and is classified as Commercial Class I Type - I.

How the guideline value of Chandran Nagar has changed

The guideline value for Chandran Nagar has undergone significant changes over the years. The earliest recorded figure is from 2003, at Rs 427 per sq.ft. This value increased to Rs 810 per sq.ft in 2007, marking a 90% rise. By 2017, the guideline value further escalated to Rs 1,742 per sq.ft, which is an increase of 115%. The value continued to rise, reaching Rs 2,600 per sq.ft in 2023, a 49% increase from the previous revision. The current figure for 2024 stands at Rs 2,860 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no recorded figures for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 570%.

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, placing Chandran Nagar's current guideline value above this median.

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

Stamp duty and registration fee for property in Chandran Nagar

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, calculated at 7%, is Rs 2,00,200, while the registration fee at 2% is Rs 57,200. Together, these fees total 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 use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Chandran Nagar?

The Sub Registrar Office that covers Chandran Nagar 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 when buying or selling property in Thiruneermalai. It serves as a reference point for the registration of property transactions, ensuring that the transaction is recorded at a value that reflects the current market conditions as determined by the government.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Chandran Nagar?

The current guideline value of Chandran Nagar 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 increased significantly from Rs 427 per sq.ft in 2003 to Rs 2,860 per sq.ft in 2024, marking an overall increase of 570% over the years.

What is the median guideline value for streets in Thiruneermalai?

The median guideline value for the 316 streets in Thiruneermalai is Rs 2,420 per sq.ft, which is lower than the current value for Chandran Nagar.

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

For a property valued at Rs 28,60,000, the stamp duty is Rs 2,00,200 and the registration fee is Rs 57,200, totaling Rs 2,57,400.

Which office handles property registrations for Chandran Nagar?

The Pammal Sub Registrar Office handles property registrations for Chandran Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.