Guideline Value for Chitra Nagar

Chitra Nagar guideline value

The current guideline value for Chitra Nagar, located in Atanancheri village, is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Chitra Nagar has changed

The guideline value for Chitra Nagar has undergone several revisions over the years. In 2007, the value was Rs 160 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it saw a decrease to Rs 469 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the value at Rs 700 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. The substantial increase from 2007 to 2012 was 338%, and overall, the guideline value has risen by 338% from 2007 to 2024.

Guideline values in Atanancheri

Atanancheri village has a total of 83 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the current guideline value of Chitra Nagar.

• Chidambaram Nagar: Rs 800 per sq.ft (2024)
• Deivanai Nagar: Rs 600 per sq.ft (2024)
• Dhinesh Avenue: Rs 500 per sq.ft (2024)
• Dhorupathi Amman Nagar: Rs 700 per sq.ft (2024)
• Bharath Nagar: Rs 700 per sq.ft (2024)
• Dr.Jayasingh Nagar-I,II: Rs 700 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chitra Nagar?

The Sub Registrar Office that covers Chitra Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Atanancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chitra Nagar?

The current guideline value of Chitra Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the value in 2007 being Rs 160 per sq.ft, increasing to Rs 700 per sq.ft in 2012, decreasing to Rs 469 per sq.ft in 2017, and then remaining at Rs 700 per sq.ft in 2023 and 2024.

What is the land classification of Chitra Nagar?

Chitra Nagar is classified as Residential Special Type - II, as per the guidelines set by the authorities.

What are the stamp duty and registration fees for property in Chitra Nagar?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

Where is the Sub Registrar Office for Chitra Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.