Guideline Value for Charles Nagar

Charles Nagar guideline value

The current guideline value of Charles Nagar, located in Mangadu-B village under the Kunrathur SRO, is Rs 1,750 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - III.

How the guideline value of Charles Nagar has changed

In the 2017 revision, the guideline value was Rs 938 per sq.ft. This figure increased to Rs 1,400 per sq.ft in the 2023 revision, marking a change of 49%. The most recent revision in 2024 saw a further increase to Rs 1,750 per sq.ft, which represents a 25% rise from the previous year. Notably, the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 87%. This significant change reflects the evolving landscape of property values in the area.

Guideline values in Mangadu-B

In Mangadu-B, there are 70 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,430 to Rs 4,300 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value for Charles Nagar is below this median.

• Addison Nagar Annex: Rs 1,750 per sq.ft (2024)
• Addison Nagar: Rs 1,750 per sq.ft (2024)
• Jeeva Nagar: Rs 1,550 per sq.ft (2024)
• Kalaimagal Nagar: Rs 2,000 per sq.ft (2024)
• O.A.Royal Nagar: Rs 3,960 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Charles Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,750 per sq.ft, the guideline value amounts to Rs 17,50,000. The stamp duty at 7% would be Rs 1,22,500, and the registration fee at 2% would be Rs 35,000, totaling Rs 1,57,500. 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 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 information.

How the guideline value is used when you buy or sell in Mangadu-B

The guideline value is a crucial factor in the registration process when buying or selling property in Mangadu-B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Charles Nagar?

The current guideline value of Charles Nagar is Rs 1,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 938 per sq.ft in 2017 to Rs 1,750 per sq.ft in 2024, reflecting an overall increase of 87% over this period.

What is the land classification for Charles Nagar?

Charles Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,50,000, the total fees would be Rs 1,57,500.