Guideline Value for Chidambaram Street (S.V) (JPT)

Chidambaram Street (S.V) (JPT) guideline value

The current guideline value of Chidambaram Street (S.V) (JPT) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Chidambaram Street (S.V) (JPT) has changed

The guideline value for Chidambaram Street (S.V) (JPT) has seen significant changes over the years. In the 2007 revision, the value was Rs 1,210 per sq.ft, which increased to Rs 3,015 per sq.ft in 2017, marking a 149% rise. The value further increased to Rs 4,500 per sq.ft in the 2023 revision, reflecting a 49% increase from the previous revision. The current value of Rs 4,900 per sq.ft in 2024 represents a 9% increase from the 2023 figure. The register has no figures for the years 2002, 2003, and 2012.

Overall, from 2007 to 2024, the guideline value has increased by 305%. This substantial rise highlights the changing landscape of property values in the area over the years.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which matches the current guideline value of Chidambaram Street (S.V) (JPT).

• Chidambaranar Street: Rs 4,900 per sq.ft (2024)
• Chetty Street: Rs 4,900 per sq.ft (2024)
• Cheran Street (Parri Nagar): Rs 5,500 per sq.ft (2024)
• Cheran Street (MGR Nagar): Rs 3,300 per sq.ft (2024)
• Chippaithottam 1st Street: Rs 4,100 per sq.ft (2024)
• Chippaithottam 2nd Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chidambaram Street (S.V) (JPT)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for stamp duty and registration would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chidambaram Street (S.V) (JPT)?

The Sub Registrar Office that covers Chidambaram Street (S.V) (JPT) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a critical factor in the property registration process in Kodambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the applicable taxes and fees during the registration process.

Frequently asked questions

What is the current guideline value of Chidambaram Street (S.V) (JPT)?

The current guideline value of Chidambaram Street (S.V) (JPT) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, representing an overall increase of 305%.

What is the land classification for Chidambaram Street (S.V) (JPT)?

The land classification for Chidambaram Street (S.V) (JPT) is Residential Class III Type - II.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office covers this street?

The Ashok Nagar Sub Registrar Office covers Chidambaram Street (S.V) (JPT), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.