Guideline Value for Chinmaya Nagar Stage II Extension, 3rd Street

Chinmaya Nagar Stage II Extension, 3rd Street guideline value

The current guideline value for Chinmaya Nagar Stage II Extension, 3rd 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 Stage II Extension, 3rd Street has changed

The guideline value for Chinmaya Nagar Stage II Extension, 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which was then reduced to Rs 3,015 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 4,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 4,900 per sq.ft. The register has no figure for the years 2002, 2003, and 2007 for this street.

Between the revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it saw a significant increase of 49%. The change from 2023 to 2024 is an increase of 9%. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Koyakbedu

Koyakbedu has 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 Stage II Extension, 3rd Street above this median.

• Chinmaya Nagar Stage 1 & 2, Extension 3rd Street: Rs 4,900 per sq.ft (2024)
• Chinmaya Nagar Main Road: Rs 5,500 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 II Extension, 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the 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, totaling Rs 4,41,000. Duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chinmaya Nagar Stage II Extension, 3rd Street?

The Sub Registrar Office that covers Chinmaya Nagar Stage II Extension, 3rd 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 is a crucial factor in the property registration process in Koyakbedu. When a property is sold or purchased, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications involved in the transaction.

Buyers and sellers must consider the guideline value when negotiating property prices, as it serves as a benchmark for the minimum value at which properties should be registered. This ensures transparency and fairness in property transactions within the Koyakbedu area.

Frequently asked questions

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

The current guideline value for Chinmaya Nagar Stage II 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 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, and then to Rs 4,500 per sq.ft in 2023, finally reaching Rs 4,900 per sq.ft in 2024.

What is the land classification for this area?

The land classification for Chinmaya Nagar Stage II Extension, 3rd Street is Residential Class II Type - II.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 4,41,000, based on the current guideline value of Rs 49,00,000.

Which office handles the registration for this street?

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