Guideline Value for Chinmaya Nagar 3rd Cross Street

Chinmaya Nagar 3rd Cross Street guideline value

The current guideline value of Chinmaya Nagar 3rd Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village under the AnnaNagar SRO, classified as Residential Class II Type - II.

How the guideline value of Chinmaya Nagar 3rd Cross Street has changed

The guideline value has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 200% rise. However, the value dropped to Rs 3,015 per sq.ft in 2017, reflecting a decrease of 33%. The subsequent revision in 2023 set the value at Rs 4,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 4,900 per sq.ft, a change of 9% from the previous year.

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

Guideline values in Koyakbedu

Koyakbedu has 270 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Chinmaya Nagar 3rd Cross Street's 2024 value above this median.

• Chinmaya Nagar 2nd Main Road: 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 2nd Cross Street: Rs 4,900 per sq.ft (2024)
• Chinmaya Nagar 1st Cross Street: 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 3rd 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 fees to Rs 4,41,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chinmaya Nagar 3rd Cross Street?

The Chinmaya Nagar 3rd Cross Street falls under the AnnaNagar 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 information.

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

The guideline value is an essential factor in property transactions in Koyakbedu, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chinmaya Nagar 3rd Cross Street?

The current guideline value of Chinmaya Nagar 3rd 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 increased from Rs 1,500 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 227% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 49,00,000. The stamp duty is Rs 3,43,000, and the registration fee is Rs 98,000, totaling Rs 4,41,000.

Which office handles registrations for Chinmaya Nagar 3rd Cross Street?

The AnnaNagar Sub Registrar Office handles registrations for Chinmaya Nagar 3rd Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is crucial as it sets the minimum price for property registration, ensuring compliance with local regulations. It also influences the calculation of stamp duty and registration fees during transactions.