Guideline Value for Chinmaya Nagar Stage 1 & 2, Extension 3rd Street

Chinmaya Nagar Stage 1 & 2, Extension 3rd Street guideline value

The current guideline value for Chinmaya Nagar Stage 1 & 2, Extension 3rd Street is Rs 4,900 per sq.ft. 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 Stage 1 & 2, Extension 3rd Street has changed

The guideline value for Chinmaya Nagar Stage 1 & 2, Extension 3rd Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in the 2012 revision. However, it then decreased to Rs 3,015 per sq.ft in the 2017 revision. The 2023 revision set the value at Rs 4,500 per sq.ft, and the most recent 2024 revision has increased it to Rs 4,900 per sq.ft.

Between the revisions, notable changes include a 200% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. There are no figures available for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

Koyakbedu has a total of 270 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Chinmaya Nagar Stage 1 & 2, Extension 3rd Street above this median.

• Chinmaya Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Chinmaya Nagar Stage II 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 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 Stage 1 & 2, Extension 3rd 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 cost for these fees to Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chinmaya Nagar Stage 1 & 2, Extension 3rd Street?

The Chinmaya Nagar Stage 1 & 2, Extension 3rd Street is covered by 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 is a critical factor in the registration process when buying or selling property in Koyakbedu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the buyer must pay stamp duty based on the higher value between the guideline value and the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Chinmaya Nagar Stage 1 & 2, Extension 3rd Street?

The current guideline value for Chinmaya Nagar Stage 1 & 2, Extension 3rd 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 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 is the registration office for Chinmaya Nagar Stage 1 & 2, Extension 3rd Street?

The registration office for Chinmaya Nagar Stage 1 & 2, Extension 3rd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Chinmaya Nagar Stage 1 & 2, Extension 3rd Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find more information about guideline values in Koyakbedu?

For more information about guideline values in Koyakbedu, you can refer to the Registration Department's guideline value register (TNReginet).