Guideline Value for Chandran Nagar

Chandran Nagar guideline value

The current guideline value of Chandran Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Vallam village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Chandran Nagar has changed

The guideline value for Chandran Nagar has seen several revisions over the years. In 2007, the value was Rs 35 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft. The most notable change occurred between 2017 and 2023, where the value rose to Rs 600 per sq.ft, maintaining the same figure in the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 1614%. The changes between the revisions are as follows: a massive increase of 1329% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a substantial increase of 79% from 2017 to 2023, with no change from 2023 to 2024.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value of Chandran Nagar is above this median.

• B.K. Rajiv Town: Rs 200 per sq.ft (2024)
• Bajanai Koil Street: Rs 200 per sq.ft (2024)
• Ganapathy Nagar: Rs 200 per sq.ft (2024)
• Gandhi Nagar: Rs 300 per sq.ft (2024)
• Gayathiri Nagar: Rs 200 per sq.ft (2024)
• Gowtham Nagar: Rs 600 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 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty, charged at 7%, would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Chandran Nagar?

The Sub Registrar Office that covers Chandran Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vallam. It establishes a baseline for the value of the property, which is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the property is registered at a price that reflects its worth according to government standards. This value is essential for legal documentation and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Chandran Nagar?

The current guideline value of Chandran Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 35 per sq.ft in 2007 to Rs 600 per sq.ft in 2024, with various increases and decreases in between.

What are the other streets in Vallam with their guideline values?

Other streets in Vallam include B.K. Rajiv Town, Bajanai Koil Street, Ganapathy Nagar, Gandhi Nagar, Gayathiri Nagar, and Gowtham Nagar, with values ranging from Rs 200 to Rs 600 per sq.ft in 2024.

What fees are involved when registering property in Chandran Nagar?

When registering property in Chandran Nagar, the fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Chandran Nagar located?

The Sub Registrar Office for Chandran Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.