Guideline Value for Chandrapuri Nagar

Chandrapuri Nagar guideline value

The current guideline value of Chandrapuri Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Chandrapuri Nagar has changed

The guideline value for Chandrapuri Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced by 33% to Rs 1,340 per sq.ft in the 2017 revision. The value increased significantly by 49% in the 2023 revision, reaching Rs 2,000 per sq.ft, and has now risen by 10% to the current value of Rs 2,200 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In summary, from 2012 to 2024, the overall change in guideline value is an increase of 10%. The most recent increase from 2023 to 2024 reflects a 10% rise, bringing the current rate to Rs 2,200 per sq.ft.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which indicates that the guideline value of Chandrapuri Nagar is below this median.

• Chandrapathy Nagar: Rs 1,320 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 Chandrapuri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chandrapuri Nagar?

The Sub Registrar Office that covers Chandrapuri Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process for property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. This value is used to calculate the applicable stamp duty and registration fees, which are essential components of the property transaction process.

Frequently asked questions

What is the current guideline value of Chandrapuri Nagar?

The current guideline value of Chandrapuri 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 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. It was previously Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What is the land classification of Chandrapuri Nagar?

Chandrapuri Nagar is classified as Residential Class I Type - II. This classification is important for determining the permissible uses of the land.

What are the stamp duty and registration fees for properties in Chandrapuri 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 calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Chandrapuri Nagar located?

The Sub Registrar Office for Chandrapuri Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.