Guideline Value for Chitlapakkam Main Road

Chitlapakkam Main Road guideline value

The current guideline value of Chitlapakkam Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Mixed Type - I land.

How the guideline value of Chitlapakkam Main Road has changed

The guideline value for Chitlapakkam Main Road has seen several revisions over the years. In 2007, the value was Rs 1,825 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a significant rise of 119%. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then rose sharply to Rs 4,000 per sq.ft in 2023, and further increased to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 141%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing Chitlapakkam Main Road's 2024 figure above that median.

• Chilapathikaram Street: Rs 3,850 per sq.ft (2024)
• Chandrika Garden: Rs 1,650 per sq.ft (2024)
• Buthar Street: Rs 1,650 per sq.ft (2024)
• Dhamodharan Nagar: Rs 2,970 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 3,300 per sq.ft (2024)
• East Mosque Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Chitlapakkam Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Chitlapakkam Main Road?

The Sub Registrar Office that covers Chitlapakkam Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Hastinapuram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When selling a property, the guideline value helps establish a baseline for the transaction, ensuring that the property is registered at a value that reflects the current market conditions set by the local authorities. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Chitlapakkam Main Road?

The current guideline value of Chitlapakkam Main Road 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 1,825 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 141% over the years.

What is the registration office for Chitlapakkam Main Road?

The registration office for Chitlapakkam Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty rates for property in Chitlapakkam Main Road?

The stamp duty for property transactions in Chitlapakkam Main Road is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

For more information about stamp duty and registration fees, you can use our stamp duty and registration fee calculator.