Guideline Value for Chinmaya Nagar 2nd Cross Street

Chinmaya Nagar 2nd Cross Street guideline value

The current guideline value of Chinmaya Nagar 2nd Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Chinmaya Nagar 2nd Cross Street has changed

The guideline value for Chinmaya Nagar 2nd Cross Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in the 2012 revision, marking a 200% rise. However, the value decreased to Rs 3,015 per sq.ft in the 2017 revision, reflecting a 33% drop. The 2023 revision saw a substantial increase to Rs 4,500 per sq.ft, followed by a further rise to Rs 4,900 per sq.ft in the 2024 revision, which is a 9% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 227%.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Chinmaya Nagar 2nd Cross Street's 2024 figure above that median.

• Chinmaya Nagar 1st Cross Street: Rs 4,900 per sq.ft (2024)
• Chinmaya Nagar 2nd Main Road: Rs 4,900 per sq.ft (2024)
• Chinmaya Nagar 3rd Cross Street: Rs 4,900 per sq.ft (2024)
• Chinmaya Nagar 4th Cross Street (S No.203, 204/1): Rs 4,900 per sq.ft (2024)
• Chinmaya Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Chinmaya Nagar Stage 1 & 2, Extension 3rd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chinmaya Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to 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.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Chinmaya Nagar 2nd Cross Street?

The Sub Registrar Office that covers Chinmaya Nagar 2nd Cross Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Koyakbedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

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

The current guideline value of Chinmaya Nagar 2nd Cross Street is Rs 4,900 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 1,500 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 227%.

What are the stamp duty rates for properties in Chinmaya Nagar 2nd Cross Street?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Which office handles property registrations for Chinmaya Nagar 2nd Cross Street?

The AnnaNagar Sub Registrar Office handles property registrations for Chinmaya Nagar 2nd Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Koyakbedu?

The median guideline value in Koyakbedu is Rs 4,400 per sq.ft, with Chinmaya Nagar 2nd Cross Street's current value above this median.