Guideline Value for Chidambaram Nagar 2nd Street

Chidambaram Nagar 2nd Street guideline value

The current guideline value of Chidambaram Nagar 2nd Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Chidambaram Nagar 2nd Street has changed

The guideline value for Chidambaram Nagar 2nd Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,800 per sq.ft in the 2023 revision, and the most recent revision in 2024 set the value at Rs 3,100 per sq.ft.

In terms of percentage changes, the value rose by 49% from 2017 to 2023, and then by 11% from 2023 to 2024. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, which is equal to the current guideline value for Chidambaram Nagar 2nd Street.

• Chidambaram Nagar Ist Main Road: Rs 3,100 per sq.ft (2024)
• Chidambaram Nagar Ist Street: Rs 3,100 per sq.ft (2024)
• Chidambaram Nagar: Rs 3,100 per sq.ft (2024)
• Chengavalrayan Street: Rs 3,550 per sq.ft (2024)
• Chinna Street: Rs 3,100 per sq.ft (2024)
• Chellammal Nagar/Main Road/ 1st & 2nd Cross Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chidambaram Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, totaling Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Chidambaram Nagar 2nd Street?

The Sub Registrar Office that covers Chidambaram Nagar 2nd Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO here.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ramapuram. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that both parties are aware of the financial obligations involved.

When a property is registered, the guideline value is considered to ensure compliance with the legal requirements. Buyers and sellers should be familiar with the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chidambaram Nagar 2nd Street?

The current guideline value of Chidambaram Nagar 2nd Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 and the registration fee would be Rs 62,000, totaling Rs 2,79,000.

Which Sub Registrar Office covers this street?

The Sub Registrar Office for Chidambaram Nagar 2nd Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What is the land classification for Chidambaram Nagar 2nd Street?

The land classification for Chidambaram Nagar 2nd Street is Residential Class II Type - I.