Guideline Value for Chidambaram Nagar

Chidambaram Nagar guideline value

The current guideline value of Chidambaram Nagar, located in Padappai village under the Padappai SRO, is Rs 830 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Chidambaram Nagar has changed

Over the years, the guideline value of Chidambaram Nagar has seen significant changes. The earliest recorded revision in 2007 set the value at Rs 50 per sq.ft. This figure increased dramatically to Rs 750 per sq.ft in 2012, marking a rise of 1400%. However, the value then dropped to Rs 502 per sq.ft in 2017, a decrease of 33%. The guideline value further increased to Rs 750 per sq.ft in 2023, followed by a rise to Rs 830 per sq.ft in 2024, reflecting an increase of 11%.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, the guideline value has increased by 1560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Padappai

In Padappai village, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, which is equal to the current guideline value for Chidambaram Nagar.

• Chennai Teachers Guild City Phase-I: Rs 740 per sq.ft (2024)
• Chokkalingam Nagar: Rs 1,320 per sq.ft (2024)
• Car Street: Rs 830 per sq.ft (2024)
• David Nagar: Rs 3,300 per sq.ft (2024)
• B.M.D.Nagar: Rs 1,320 per sq.ft (2024)
• Bikshi Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Chidambaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would amount to Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total charges to Rs 74,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chidambaram Nagar?

The Sub Registrar Office that covers Chidambaram Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Padappai. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must be aware that the registration fees and stamp duty are calculated based on this guideline value.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chidambaram Nagar?

The current guideline value of Chidambaram Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 50 per sq.ft in 2007 to Rs 830 per sq.ft in 2024, reflecting an overall increase of 1560% over the years.

What is the land classification of Chidambaram Nagar?

Chidambaram Nagar falls under the Residential Class III Type - I land classification.

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

The Padappai Sub Registrar Office covers Chidambaram Nagar and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Chidambaram Nagar?

The stamp duty for properties in Chidambaram Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.