Guideline Value for Charles Nagar

Charles Nagar guideline value

The current guideline value of Charles Nagar is Rs 1,350 per sq.ft, effective from 1 July 2024. This locality is situated in Kolumanivakkam village, which falls under the Kunrathur SRO. The land classification for this area is Mixed Special Type - I.

How the guideline value of Charles Nagar has changed

The guideline value for Charles Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, this was followed by a decrease to Rs 804 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023, before reaching the current value of Rs 1,350 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

Looking at the changes, the guideline value increased by 300% from 2007 to 2012, then decreased by 33% from 2012 to 2017. Following this, there was a substantial increase of 49% from 2017 to 2023, and a further rise of 13% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 350%.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,290 per sq.ft. The median value for these streets is Rs 1,350 per sq.ft, which is equal to the current guideline value of Charles Nagar.

• Dhana Garden: Rs 1,350 per sq.ft (2024)
• Eswari Nagar: Rs 2,630 per sq.ft (2024)
• Eswari Nagar Extension: Rs 2,630 per sq.ft (2024)
• Ashwathi Avenue: Rs 1,650 per sq.ft (2024)
• Golden City: Rs 1,210 per sq.ft (2024)
• Hari Sai Nagar: Rs 3,290 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 1,350 per sq.ft, the total guideline value amounts to Rs 13,50,000. The stamp duty at 7% would be Rs 94,500, and the registration fee at 2% would be Rs 27,000, making the total charges Rs 1,21,500. 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 detailed calculations.

Which Sub Registrar Office covers Charles Nagar?

The Sub Registrar Office covering Charles Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Kolumanivakkam. It determines the minimum value at which a property can be registered, ensuring that the state collects appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it impacts the overall costs involved in the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Charles Nagar?

The current guideline value of Charles Nagar is Rs 1,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 300 per sq.ft in 2007 to Rs 1,350 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Charles Nagar?

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

How is stamp duty calculated for property in Charles Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 94,500.

Where can I find the Sub Registrar Office for Charles Nagar?

The Sub Registrar Office for Charles Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details online.