Guideline Value for Chippaithottam 2nd Street

Chippaithottam 2nd Street guideline value

The current guideline value of Chippaithottam 2nd Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Chippaithottam 2nd Street has changed

The guideline value for Chippaithottam 2nd Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012. However, there was a decline to Rs 2,512 per sq.ft in the 2017 revision. The 2023 revision saw a rise to Rs 3,750 per sq.ft, and the current 2024 revision has set the value at Rs 4,100 per sq.ft. There are no figures available for the revisions in 2002 and 2003 for this street.

From the 2017 revision to the 2023 revision, the value increased by 49%. The 2023 to 2024 revision shows a rise of 9%. Notably, from the 2007 revision to the current 2024 revision, the overall increase is 239%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, making Chippaithottam 2nd Street's current value below this median.

• Chippaithottam 1st Street: Rs 4,100 per sq.ft (2024)
• Chidambaranar Street: Rs 4,900 per sq.ft (2024)
• Chidambaram Street (S.V) (JPT): Rs 4,900 per sq.ft (2024)
• Choolai Pallam: Rs 2,700 per sq.ft (2024)
• Chozahan Street (JPT): Rs 4,900 per sq.ft (2024)
• Chetty Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chippaithottam 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total fees together to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chippaithottam 2nd Street?

The Sub Registrar Office covering Chippaithottam 2nd Street is the Ashok Nagar 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 Kodambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chippaithottam 2nd Street?

The current guideline value of Chippaithottam 2nd Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen several revisions, with the most recent increase of 9% from Rs 3,750 per sq.ft in 2023 to Rs 4,100 per sq.ft in 2024. The overall increase from the 2007 revision to the current value is 239%.

What is the land classification of Chippaithottam 2nd Street?

Chippaithottam 2nd Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft property would incur total fees of Rs 3,69,000 based on the current guideline value.

Where is the Sub Registrar Office for Chippaithottam 2nd Street?

The Sub Registrar Office covering this street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.