Guideline Value for Charles Nagar

Charles Nagar guideline value

The current guideline value of Charles Nagar, located in Chikkarayapuram village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Charles Nagar has changed

Over the years, the guideline value of Charles Nagar has seen significant changes. The earliest recorded figure is from 2003, where the value was Rs 45 per sq.ft. This increased to Rs 200 per sq.ft in 2007, marking a substantial rise of 344%. In 2012, the value rose to Rs 1,400 per sq.ft, reflecting a remarkable increase of 600%. However, it then dropped to Rs 938 per sq.ft in 2017, which was a decrease of 33%. The guideline value further increased to Rs 1,800 per sq.ft in 2023, a significant rise of 92%, and currently stands at Rs 1,980 per sq.ft from the 2024 revision, representing a 10% increase from the previous year.

The register has no figure for this street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 4300%.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft, with the median being Rs 1,980 per sq.ft. The guideline value of Charles Nagar aligns with this median.

• Check Post Gandi Road: Rs 1,980 per sq.ft (2024)
• Balasubramanian Nagar: Rs 1,870 per sq.ft (2024)
• Balaji Nagar: Rs 1,980 per sq.ft (2024)
• Balaji Avenue: Rs 1,760 per sq.ft (2024)
• Bakyam Nagar: Rs 1,760 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Charles Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty is charged at 7%, which totals Rs 1,38,600, and the registration fee is 2%, amounting to Rs 39,600. Together, the total fees would be Rs 1,78,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Charles Nagar?

The Sub Registrar Office that covers Charles Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Chikkarayapuram. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when transferring property ownership.

When a property is bought or sold, the guideline value is assessed to ensure that the correct fees are calculated. This value serves as a benchmark for property transactions, ensuring transparency and consistency in the registration process.

Frequently asked questions

What is the current guideline value of Charles Nagar?

The current guideline value of Charles Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 45 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 4300% over this period.

What are the stamp duty rates for properties in Charles Nagar?

The stamp duty rate for properties in Charles Nagar is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Which office handles property registrations in Charles Nagar?

The Kunrathur Sub Registrar Office handles property registrations in Charles Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Charles Nagar?

The land classification for Charles Nagar is Mixed Special Type - I, which indicates the type of development and usage permitted in the area.