Guideline Value for Chidambaram Nagar Ist Street

Chidambaram Nagar Ist Street guideline value

The current guideline value of Chidambaram Nagar Ist Street is Rs 3,100 per sq.ft. 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 Ist Street has changed

The guideline value for Chidambaram Nagar Ist Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,100 per sq.ft, an increase from Rs 2,800 per sq.ft in 2023, marking an 11% rise. Prior to that, in 2017, the guideline value was Rs 1,876 per sq.ft, which means there was a significant increase of 49% from 2017 to 2023. The 2012 revision also recorded Rs 2,800 per sq.ft, but this represented a decrease of 33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for Chidambaram Nagar Ist Street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

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 is Rs 3,100 per sq.ft, which is equal to the guideline value of Chidambaram Nagar Ist Street.

• Chidambaram Nagar Ist Main Road: Rs 3,100 per sq.ft (2024)
• Chidambaram Nagar 2nd 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 Ist 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, bringing the total fees together to 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 details.

Which Sub Registrar Office covers Chidambaram Nagar Ist Street?

The Sub Registrar Office covering Chidambaram Nagar Ist 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 for more information.

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

The guideline value is an essential factor when buying or selling property in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers need to be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the necessary taxes are paid based on the established values set by the Registration Department.

Frequently asked questions

What is the current guideline value of Chidambaram Nagar Ist Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2023 to Rs 3,100 per sq.ft in 2024, an increase of 11%. It rose from Rs 1,876 per sq.ft in 2017 to Rs 2,800 per sq.ft in 2023, showing a 49% increase.

What is the stamp duty for properties in Chidambaram Nagar Ist Street?

The stamp duty for properties in Chidambaram Nagar Ist Street is 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000.

Where can I find the Sub Registrar Office for Chidambaram Nagar Ist Street?

The Sub Registrar Office for Chidambaram Nagar Ist Street is 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 Ist Street?

The land classification for Chidambaram Nagar Ist Street is Residential Class II Type - I, indicating its suitability for residential purposes.