Guideline Value for Chithambaranar St

Chithambaranar St guideline value

The current guideline value of Chithambaranar St is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, with a land classification of Residential Class I Type - III.

How the guideline value of Chithambaranar St has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. However, in the 2023 revision, the value increased significantly to Rs 1,500 per sq.ft, and then further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Chithambaranar St.

• Chitlapakkam IIIrd Main Road ( Thirumurugan Salai ): Rs 3,850 per sq.ft (2024)
• Chitlapakkam IInd Main Road: Rs 3,850 per sq.ft (2024)
• Chitlapakkam Ist Main Road: Rs 3,300 per sq.ft (2024)
• Chokkanathar Street: Rs 2,750 per sq.ft (2024)
• Cholamannan Street: Rs 1,650 per sq.ft (2024)
• Chotta John Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chithambaranar St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. Note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chithambaranar St?

The Sub Registrar Office that covers Chithambaranar St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It determines the minimum value at which a property can be registered and affects the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Chithambaranar St?

The current guideline value of Chithambaranar St is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Chithambaranar St?

Chithambaranar St is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Chithambaranar St?

The Sub Registrar Office for Chithambaranar St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties on Chithambaranar St?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.