Guideline Value for Chidambaranar 1st Cross Street

Chidambaranar 1st Cross Street guideline value

The current guideline value of Chidambaranar 1st Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Chidambaranar 1st Cross Street has changed

The guideline value for Chidambaranar 1st Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 224 per sq.ft. This figure increased to Rs 256 per sq.ft in 2003, marking a 14% rise. The value then jumped dramatically to Rs 900 per sq.ft in 2007, a 252% increase. Following this, the value rose to Rs 3,500 per sq.ft in 2012, representing a 289% increase. However, it decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%.

In 2023, the guideline value was revised to Rs 3,500 per sq.ft, and then increased to Rs 3,900 per sq.ft in 2024, showing an 11% rise. Overall, from 2002 to 2024, the guideline value has increased by 1641%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which aligns with the guideline value for Chidambaranar 1st Cross Street.

• Chidambaranar 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Chidambaranar Street: Rs 3,900 per sq.ft (2024)
• Citylink Road: Rs 5,500 per sq.ft (2024)
• Co-operative Nagar: Rs 5,000 per sq.ft (2024)
• Daniel Street: Rs 3,900 per sq.ft (2024)
• Devaraja Puram: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chidambaranar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. 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 Chidambaranar 1st Cross Street?

The Sub Registrar Office that covers Chidambaranar 1st Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Adambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these fees are based on a standardized value set by the government.

When buying or selling property, the guideline value helps in determining the official value of the property, which is essential for legal documentation. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Chidambaranar 1st Cross Street?

The current guideline value of Chidambaranar 1st Cross Street is Rs 3,900 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 224 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1641% over this period.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers this street?

The Alandur Sub Registrar Office covers Chidambaranar 1st Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What other streets in Adambakkam have the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Chidambaranar 2nd Cross Street, Chidambaranar Street, Daniel Street, and Devaraja Puram.