Guideline Value for Chinthamani Nagar

Chinthamani Nagar guideline value

The current guideline value of Chinthamani Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Malayambakkam village under the Kunrathur SRO and is classified as Residential Class I Type - II.

How the guideline value of Chinthamani Nagar has changed

The guideline value for Chinthamani Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in the 2017 revision. Following this, the value significantly increased to Rs 800 per sq.ft in 2023, and most recently, it rose to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 47%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median value is Rs 935 per sq.ft, indicating that the guideline value for Chinthamani Nagar is below this median.

• Cholan Nagar: Rs 935 per sq.ft (2024)
• E.V.S. Nagar: Rs 660 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 935 per sq.ft (2024)
• Balaji Nagar: Rs 935 per sq.ft (2024)
• Bakthavatchalam Nagar: Rs 1,210 per sq.ft (2024)
• Ayaan City: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Chinthamani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these charges to Rs 79,200. It is important to note that 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 Chinthamani Nagar?

The Sub Registrar Office covering Chinthamani Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is crucial when registering a property in Malayambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees during the transaction.

When buying or selling property, it is essential to be aware of the guideline value, as it may affect the overall cost of the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Chinthamani Nagar?

The current guideline value of Chinthamani Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 880 per sq.ft in 2024, with significant increases noted in the revisions from 2017 to 2023 and from 2023 to 2024.

What is the median guideline value in Malayambakkam?

The median guideline value in Malayambakkam is Rs 935 per sq.ft for the year 2024, which is higher than the guideline value of Chinthamani Nagar.

What are the stamp duty rates for property in Chinthamani Nagar?

The stamp duty for property in Chinthamani Nagar is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the same value.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in Chinthamani Nagar.