Guideline Value for Chandrasekar Street

Chandrasekar Street guideline value

The current guideline value of Chandrasekar Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Chandrasekar Street has changed

The guideline value for Chandrasekar Street has seen several revisions over the years. In 2002, the value was Rs 467 per sq.ft, which increased to Rs 513 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017, before rising again to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 3,800 per sq.ft.

The changes between these revisions are notable. From 2002 to 2003, the guideline value increased by 10%. The jump from 2003 to 2007 was 134%, while the increase from 2007 to 2012 was 192%. The value then dropped by 33% from 2012 to 2017. The increase from 2017 to 2023 was 49%, and the latest change from 2023 to 2024 is 9%. Overall, from 2002 to 2024, the guideline value has increased by 714%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value of Chandrasekar Street is below this median.

• Burner Salai: Rs 3,800 per sq.ft (2024)
• Church Road - III (Near Mathizhagan Nagar): Rs 3,800 per sq.ft (2024)
• Church Road - II (S.No.302. M.M.M.Backsite): Rs 7,100 per sq.ft (2024)
• Church Road - I (Mogappair East Bustand upto Coovam River): Rs 7,100 per sq.ft (2024)
• Collector Nagar: Rs 7,100 per sq.ft (2024)
• Bharathi Salai: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Chandrasekar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total charges Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Chandrasekar Street?

The Sub Registrar Office that covers Chandrasekar Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Mugappair. When buying or selling a property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value when engaging in property transactions. This knowledge helps in understanding the financial implications of the deal and ensures compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Chandrasekar Street?

The current guideline value of Chandrasekar Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 467 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 714% over this period.

What is the land classification for Chandrasekar Street?

The land classification for Chandrasekar Street is Residential Class II Type - I.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 38,00,000, leading to a stamp duty of Rs 2,66,000 and a registration fee of Rs 76,000, totaling Rs 3,42,000.

Where can I find the Sub Registrar Office for Chandrasekar Street?

The Sub Registrar Office for Chandrasekar Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.