Guideline Value for Chandrapathy Nagar

Chandrapathy Nagar guideline value

The current guideline value of Chandrapathy Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Chandrapathy Nagar has changed

The guideline value for Chandrapathy Nagar has seen several revisions over the years. The earliest recorded value was Rs 500 per sq.ft in 2007. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 140% rise. However, it then decreased to Rs 804 per sq.ft in 2017, a drop of 33%. In 2023, the value rose to Rs 1,200 per sq.ft again, and most recently, it has increased to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Between the revisions, the overall change from 2007 to 2024 shows a substantial increase of 164%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that Chandrapathy Nagar's 2024 figure is below this median.

• Chandrapuri Nagar: Rs 2,200 per sq.ft (2024)
• Chandran Devanesan Street: Rs 2,200 per sq.ft (2024)
• Chandran Devanesan Lane: Rs 2,200 per sq.ft (2024)
• Cenwar Nagar: Rs 2,200 per sq.ft (2024)
• Brindavan Nagar: Rs 2,200 per sq.ft (2024)
• Brindavan Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chandrapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chandrapathy Nagar?

The Sub Registrar Office that covers Chandrapathy 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 Tambaram

The guideline value is a crucial factor during the registration of property transactions in Tambaram. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for completing the transaction legally. This ensures that both parties are aware of the financial implications involved in the sale or purchase.

Frequently asked questions

What is the current guideline value of Chandrapathy Nagar?

The current guideline value of Chandrapathy Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, showing an overall increase of 164% over the years.

What is the land classification of Chandrapathy Nagar?

Chandrapathy Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at the current guideline value, the stamp duty would be 7% and the registration fee would be 2% of the guideline value, which can be calculated using the provided calculator.

Which office handles property registrations in Chandrapathy Nagar?

The Tambaram Joint 1 Sub Registrar Office handles property registrations in Chandrapathy Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.