Guideline Value for Chitheri Ward 6

Chitheri Ward 6 guideline value

The current guideline value of Chitheri Ward 6 is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Acharapakkam village and falls under the Acchirapakkam SRO. The land classification for this ward is Residential Class I Type - I.

How the guideline value of Chitheri Ward 6 has changed

The guideline value for Chitheri Ward 6 has undergone several revisions over the years. The 2007 revision set the value at Rs 100 per sq.ft, which increased to Rs 250 per sq.ft in 2012, marking a rise of 150%. However, the value decreased by 33% to Rs 167 per sq.ft in 2017. From 2017 to 2023, the value saw a significant increase of 110%, bringing it back to Rs 350 per sq.ft, a figure that remained unchanged in the 2024 revision.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 250%, reaching the current rate of Rs 350 per sq.ft.

Guideline values in Acharapakkam

In Acharapakkam, there are 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft, with a median value of Rs 400 per sq.ft. Chitheri Ward 6's guideline value is below this median.

• Block Development Office Kudiyiruppu Ward 7: Rs 400 per sq.ft (2024)
• East Mada Street (a) Easwaran Koil Street Ward 12: Rs 400 per sq.ft (2024)
• Elappakkam Road Ward 8: Rs 250 per sq.ft (2024)
• Gandhi Nagar 1st Street Ward 4: Rs 400 per sq.ft (2024)
• Gandhi Nagar 2nd Street Ward 4: Rs 400 per sq.ft (2024)
• Gandhi Nagar 3rd Street Ward 4: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Chitheri Ward 6

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. It is important to note that the 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 Chitheri Ward 6?

The Sub Registrar Office covering Chitheri Ward 6 is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Acharapakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. The value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, 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 ensure compliance with local regulations and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Chitheri Ward 6?

The current guideline value of Chitheri Ward 6 is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 350 per sq.ft in 2024, reflecting an overall increase of 250% over the years.

What are the stamp duty and registration fees for properties in Chitheri Ward 6?

For a property valued at Rs 3,50,000, the stamp duty would be Rs 24,500 and the registration fee would be Rs 7,000, totaling Rs 31,500.

Which Sub Registrar Office covers Chitheri Ward 6?

The Acchirapakkam Sub Registrar Office covers Chitheri Ward 6, located at No.70, Bazzar Street, Acchirapakkam-603301.

What is the land classification for Chitheri Ward 6?

The land classification for Chitheri Ward 6 is Residential Class I Type - I.