Guideline Value for Chandraprabhu Layout & 1st cross st ( Ward No.20 )

Chandraprabhu Layout & 1st cross st ( Ward No.20 ) guideline value

The current guideline value of Chandraprabhu Layout & 1st cross st ( Ward No.20 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Chandraprabhu Layout & 1st cross st ( Ward No.20 ) has changed

The guideline value for Chandraprabhu Layout & 1st cross st has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,600 per sq.ft, marking a 7% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Madhavaram

Madhavaram village has a range of guideline values across its 1946 streets, with the 2024 figures varying from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, which is equal to the 2024 guideline value for Chandraprabhu Layout & 1st cross st.

• Chandra Prabhu Colony (Ward-20): Rs 1,600 per sq.ft (2024)
• Chandraprabhu Layout 2nd Main Rd ( Ward No.20 ): Rs 1,600 per sq.ft (2024)
• Chandraprabhu Layout 3rd Main Road ( Ward No.20 ): Rs 1,600 per sq.ft (2024)
• Chandra Prabu Colony: Rs 1,600 per sq.ft (2024)
• Chamundeeswari Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Chakrapani Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chandraprabhu Layout & 1st cross st ( Ward No.20 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total fees would be Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chandraprabhu Layout & 1st cross st ( Ward No.20 )?

The Sub Registrar Office that covers Chandraprabhu Layout & 1st cross st ( Ward No.20 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value must be considered along with the sale price. The higher of the two figures will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Chandraprabhu Layout & 1st cross st?

The current guideline value of Chandraprabhu Layout & 1st cross st ( Ward No.20 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, with notable increases in 2023 and 2024. The value decreased from 2012 to 2017 but saw a significant rise thereafter.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Chandraprabhu Layout & 1st cross st is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty and registration fees for properties here?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 and a registration fee of Rs 32,000.

What is the land classification for this area?

Chandraprabhu Layout & 1st cross st ( Ward No.20 ) is classified as Residential Class II Type - I, which indicates its suitability for residential development.