Guideline Value for Chandrasekaran Street

Chandrasekaran Street guideline value

The current guideline value of Chandrasekaran Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Chandrasekaran Street has changed

Over the years, the guideline value of Chandrasekaran Street has seen several revisions. The 2007 revision set the value at Rs 1,210 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a rise of 210%. However, from 2012 to 2017, the value decreased to Rs 2,512 per sq.ft, a decline of 33%. The value then rose to Rs 3,750 per sq.ft in 2023, and most recently, it has increased to Rs 4,100 per sq.ft in the 2024 revision, reflecting a growth of 9%.

In total, from the 2007 revision to the current 2024 value, there has been an overall increase of 239%. Notably, the guideline register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Chandrasekaran Street's current value below this median.

• CBI Colony (K.K.): Rs 5,500 per sq.ft (2024)
• Cheran Street (MGR Nagar): Rs 3,300 per sq.ft (2024)
• Cheran Street (Parri Nagar): Rs 5,500 per sq.ft (2024)
• Chetty Street: Rs 4,900 per sq.ft (2024)
• Chidambaram Street (S.V) (JPT): Rs 4,900 per sq.ft (2024)
• Chidambaranar Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chandrasekaran Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chandrasekaran Street?

The Sub Registrar Office that covers Chandrasekaran Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is officially documented at a recognized value.

When engaging in a property transaction, the buyer and seller must consider the guideline value to calculate applicable fees such as stamp duty and registration charges. This ensures compliance with legal requirements and accurate financial planning during the property transfer process.

Frequently asked questions

What is the current guideline value of Chandrasekaran Street?

The current guideline value of Chandrasekaran Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 239% over the years.

What is the land classification for Chandrasekaran Street?

The land classification for Chandrasekaran Street is Residential Class IV Type - I.

Where is the Sub Registrar Office for Chandrasekaran Street located?

The Sub Registrar Office for Chandrasekaran Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Chandrasekaran Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 41,00,000, the stamp duty would be Rs 2,87,000.