Guideline Value for Chengai Crown City Phase-III

Chengai Crown City Phase-III guideline value

The current guideline value for Chengai Crown City Phase-III is Rs 800 per sq.ft, effective from 1 July 2024. This property is located in Melaripakkam village, under the Chengleput Joint I SRO, with a land classification of Mixed Special Type - II.

How the guideline value of Chengai Crown City Phase-III has changed

According to the guideline value register, there are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for this street. The 2023 revision also listed the guideline value at Rs 800 per sq.ft, which remained unchanged in the 2024 revision, indicating a 0% change between these two years.

Thus, the guideline value has been consistent at Rs 800 per sq.ft since the 2023 revision. The current rate reflects the stability in the valuation for this area, with no fluctuations recorded in the recent revisions.

Guideline values in Melaripakkam

The guideline value for Chengai Crown City Phase-III is aligned with other streets in Melaripakkam. The following are the other streets under the Chengleput Joint I SRO:

• Vijayalakshmi Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Chengai Crown City Phase-III

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chengai Crown City Phase-III?

The Chengai Crown City Phase-III falls under the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Melaripakkam, as it determines the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used as a benchmark for taxation purposes. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the sale and registration of the property.

Frequently asked questions

What is the current guideline value of Chengai Crown City Phase-III?

The current guideline value of Chengai Crown City Phase-III is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since the 2023 revision, with no changes recorded in the 2024 revision. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000.

Which office handles the registration for Chengai Crown City Phase-III?

The Chengleput Joint I Sub Registrar Office handles the registration for Chengai Crown City Phase-III, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department's guideline value register, which reflects the official valuation of properties for taxation and registration purposes. It is essential for buyers and sellers to refer to this register when conducting property transactions.