Guideline Value for Chitra Nagar

Chitra Nagar guideline value

The current guideline value of Chitra Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village, under the Kunrathur SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Chitra Nagar has changed

The guideline value for Chitra Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 737 per sq.ft. This increased to Rs 1,100 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 set the value at Rs 1,210 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft, with a median value of Rs 1,540 per sq.ft. Chitra Nagar's 2024 figure is below this median.

• Chithra Nagar: Rs 1,210 per sq.ft (2024)
• Church Street: Rs 1,210 per sq.ft (2024)
• Chekkumedu Vania Street: Rs 1,210 per sq.ft (2024)
• Chandra Nagar: Rs 1,430 per sq.ft (2024)
• Dayalan Nagar: Rs 1,210 per sq.ft (2024)
• Devi Nagar 1st Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Chitra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total charges to Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chitra Nagar?

The Sub Registrar Office that covers Chitra Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for additional information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value plays a crucial role in the registration process when buying or selling property in Kunrathour-B. It is used to determine the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the guideline value is considered to ensure that the correct amount of duty is paid, which is calculated on either the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Chitra Nagar?

The current guideline value of Chitra Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 737 per sq.ft to Rs 1,210 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty rates applicable in Chitra Nagar?

The stamp duty rate applicable in Chitra Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Chitra Nagar?

The Sub Registrar Office for Chitra Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value in Kunrathour-B?

The median guideline value in Kunrathour-B is Rs 1,540 per sq.ft, with Chitra Nagar's 2024 figure being below this median.