Guideline Value for Chithambaram Street

Chithambaram Street guideline value

The current guideline value of Chithambaram Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO and is classified as Residential Class I Type - I.

How the guideline value of Chithambaram Street has changed

In the 2012 revision, the guideline value was Rs 4,500 per sq.ft. This changed to Rs 3,015 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the most recent 2024 revision shows a significant increase to Rs 4,950 per sq.ft, reflecting a rise of 64% from the 2017 figure. The overall change from 2012 to 2024 is an increase of 10%.

The guideline value register has no figures for the years 2002, 2003, 2007, and 2023 for Chithambaram Street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, placing Chithambaram Street's 2024 figure above this median.

• Chinthamani Vinayagar Koil Street: Rs 4,950 per sq.ft (2024)
• Chowdri Nagar 10th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 11th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 12th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 13th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 14th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chithambaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total fees together to Rs 4,45,500. 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 information.

Which Sub Registrar Office covers Chithambaram Street?

The Sub Registrar Office that covers Chithambaram Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a basis for calculating the stamp duty and registration fees, which are mandatory at the time of property registration.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Chithambaram Street?

The current guideline value of Chithambaram Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 4,500 per sq.ft in 2012, decreased to Rs 3,015 per sq.ft in 2017, and increased to Rs 4,950 per sq.ft in 2024.

What is the land classification for Chithambaram Street?

Chithambaram Street is classified as Residential Class I Type - I, which is a designation for residential areas in the region.

Where can I find the Sub Registrar Office for Chithambaram Street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Chithambaram Street.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees amount to Rs 4,45,500.