Guideline Value for Chandran Nagar

Chandran Nagar guideline value

The current guideline value of Chandran Nagar, located in Irumpuliyur village under the Tambaram Joint 1 SRO, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Chandran Nagar has changed

The guideline value of Chandran Nagar has seen several revisions over the years. In 2007, the value was set at Rs 650 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 208%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, representing a 49% rise. The most recent revision in 2024 brought the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the guideline value for Chandran Nagar.

• Chellammal Nagar yamuna Street: Rs 2,200 per sq.ft (2024)
• Chelliamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Chelliamman Koil 2d Cross Street: Rs 2,200 per sq.ft (2024)
• Chelliamman Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Chelliamman Koil Backside: Rs 1,650 per sq.ft (2024)
• Chelliamman Koil Erikarai Street: Rs 2,200 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 2,200 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Chandran Nagar?

The Sub Registrar Office that covers Chandran Nagar 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 Irumpuliyur

The guideline value is a crucial factor in the registration process when buying or selling property in Irumpuliyur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chandran Nagar?

The current guideline value of Chandran Nagar 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 from Rs 650 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various increases and one decrease in between. The most significant increase occurred between 2012 and 2017, where it fell by 33%.

What is the land classification for Chandran Nagar?

The land classification for Chandran Nagar is Residential Special Type - II, indicating its suitability for residential development.

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

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Chandran Nagar?

The Tambaram Joint 1 Sub Registrar Office covers Chandran Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.