Guideline Value for Chidambaranar 2nd Cross Street

Chidambaranar 2nd Cross Street guideline value

The current guideline value of Chidambaranar 2nd 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 2nd Cross Street has changed

The guideline value for Chidambaranar 2nd Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 224 per sq.ft, which increased to Rs 256 per sq.ft in 2003. Following this, the value rose significantly to Rs 900 per sq.ft in 2007, marking an increase of 252%. The value remained at Rs 900 per sq.ft until the next revision in 2012, where it increased to Rs 3,500 per sq.ft, a remarkable rise of 289%.

In 2017, the guideline value was revised to Rs 2,345 per sq.ft, reflecting a decrease of 33%. The most recent revisions occurred in 2023 and 2024, with the value rising from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, an increase of 11%. Overall, from 2002 to 2024, the guideline value has increased by 1641%.

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 guideline value is Rs 3,900 per sq.ft, which is equal to the current value of Chidambaranar 2nd Cross Street.

• Chidambaranar 1st 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 2nd 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 amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chidambaranar 2nd Cross Street?

The Sub Registrar Office that covers Chidambaranar 2nd 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the guideline value helps in assessing the transaction's legitimacy and prevents undervaluation. Buyers and sellers must consider this value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Chidambaranar 2nd Cross Street?

The current guideline value of Chidambaranar 2nd 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 the years.

What is the stamp duty for property in Chidambaranar 2nd Cross Street?

The stamp duty for property in Chidambaranar 2nd Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Chidambaranar 2nd Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the other streets in Adambakkam with similar guideline values?

Other streets in Adambakkam with a guideline value of Rs 3,900 per sq.ft include Chidambaranar 1st Cross Street, Chidambaranar Street, Daniel Street, and Devaraja Puram.