Guideline Value for Chitaranjan Nagar, Chennai 82

Chitaranjan Nagar, Chennai 82 guideline value

The current guideline value for Chitaranjan Nagar, Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under Ayanavaram village and is classified as Residential Class II Type - I. The relevant Sub Registrar Office for this locality is the AnnaNagar SRO.

How the guideline value of Chitaranjan Nagar, Chennai 82 has changed

The guideline value for Chitaranjan Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,000 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% rise. However, in 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The subsequent revisions saw the value rise again to Rs 4,000 per sq.ft in 2023, and then to the current rate of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram consists of 369 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, making the current guideline value of Chitaranjan Nagar below this median.

• Chitaranjan Colony, Chennai 82: Rs 4,400 per sq.ft (2024)
• Chittam Krishnasamy Naidu Lane & Street: Rs 4,400 per sq.ft (2024)
• Chidambaram Mudali Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Chetty Thottam: Rs 4,400 per sq.ft (2024)
• Chetty Thoppu street: Rs 4,400 per sq.ft (2024)
• Chetty Street Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Chitaranjan Nagar, Chennai 82

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the 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 Chitaranjan Nagar, Chennai 82?

The Sub Registrar Office that covers Chitaranjan Nagar is 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 Ayanavaram

The guideline value is a crucial factor in property transactions in Ayanavaram. It serves as a benchmark for determining the stamp duty and registration fees during the sale or purchase of a property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements and to accurately assess the financial implications of the transaction.

When registering a property, the guideline value is used to calculate the applicable duties and fees, which can significantly affect the overall cost of the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Chitaranjan Nagar, Chennai 82?

The current guideline value for Chitaranjan Nagar, Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with several revisions in between. The most recent increase was from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024.

What is the land classification for Chitaranjan Nagar?

Chitaranjan Nagar is classified as Residential Class II Type - I. This classification indicates the type of development permissible in the area.

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

The Sub Registrar Office for Chitaranjan Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the total stamp duty and registration fee would amount to Rs 3,96,000.