Guideline Value for Chinmaya Nagar Main Road

Chinmaya Nagar Main Road guideline value

The current guideline value of Chinmaya Nagar Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Koyakbedu village, under the AnnaNagar SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Chinmaya Nagar Main Road has changed

The guideline value for Chinmaya Nagar Main Road has seen several revisions over the years. The earliest registered figure is from 2007 at Rs 1,500 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a 233% rise. However, in 2017, the value dropped to Rs 3,350 per sq.ft, a decrease of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, before reaching the current figure of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 267%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

In Koyakbedu village, there are 270 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Chinmaya Nagar Main Road's 2024 figure above this median.

• Chinmaya Nagar Stage 1 & 2, Extension 3rd 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 Stage II Extension, 3rd Street: Rs 4,900 per sq.ft (2024)
• Chinmaya Nagar 3rd Cross Street: Rs 4,900 per sq.ft (2024)
• Chinmaya Nagar 2nd Main Road: Rs 4,900 per sq.ft (2024)
• Chinmaya Nagar 2nd Cross Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chinmaya Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty, calculated at 7%, would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chinmaya Nagar Main Road?

The Chinmaya Nagar Main Road falls under the jurisdiction of 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 a crucial factor when registering property transactions in Koyakbedu. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that all transactions are conducted at a fair price as per government standards.

When you buy or sell property, the guideline value influences the stamp duty and registration fees applicable. The fees are calculated based on the higher of the guideline value or the actual sale price, ensuring that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chinmaya Nagar Main Road?

The current guideline value of Chinmaya Nagar Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 267% over the years.

What are the stamp duty rates for properties in Chinmaya Nagar?

The stamp duty rate for properties in Chinmaya Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Chinmaya Nagar?

The Sub Registrar Office covering Chinmaya Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Koyakbedu?

The median guideline value for streets in Koyakbedu is Rs 4,400 per sq.ft, with Chinmaya Nagar Main Road's value being above this median.