Guideline Value for Chitlapakkam IInd Main Road

Chitlapakkam IInd Main Road guideline value

The current guideline value of Chitlapakkam IInd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO, with a land classification of Residential Special Type - II.

How the guideline value of Chitlapakkam IInd Main Road has changed

Over the years, the guideline value for Chitlapakkam IInd Main Road has seen several revisions. The earliest recorded figure is from 2012, which was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. In 2023, the value increased to Rs 3,500 per sq.ft, and the latest revision in 2024 set the value at Rs 3,850 per sq.ft.

Examining the changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The 2023 to 2024 revision shows a rise of 10%. 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

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Chitlapakkam IInd Main Road is above this median.

• Chitlapakkam IIIrd Main Road ( Thirumurugan Salai ): Rs 3,850 per sq.ft (2024)
• Chitlapakkam Ist Main Road: Rs 3,300 per sq.ft (2024)
• Chithambaranar St: Rs 1,650 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 Chitlapakkam IInd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Chitlapakkam IInd Main Road?

The Chitlapakkam IInd Main Road is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in 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 when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and legally, safeguarding the interests of both parties involved.

Frequently asked questions

What is the current guideline value of Chitlapakkam IInd Main Road?

The current guideline value of Chitlapakkam IInd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification of Chitlapakkam IInd Main Road?

The land classification of Chitlapakkam IInd Main Road is Residential Special Type - II.

What are the stamp duty and registration fees for properties in Chitlapakkam IInd Main Road?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers the Chitlapakkam IInd Main Road?

The Tambaram Joint 1 Sub Registrar Office covers Chitlapakkam IInd Main Road, located at No.26, Mes Road, East Tambaram, Chennai-600059.