Guideline Value for Chitra Nagar

Chitra Nagar guideline value

The current guideline value of Chitra Nagar, located in Vengadamangalam village under the Gooduvancheri SRO, is Rs 800 per sq.ft as per the 2023 revision. The land classification for this area is Residential Special Type - II.

How the guideline value of Chitra Nagar has changed

The guideline value for Chitra Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 160 per sq.ft. This increased significantly to Rs 800 per sq.ft in the 2012 revision, marking a remarkable growth of 400%. However, in the 2017 revision, the value dropped to Rs 536 per sq.ft, which was a decrease of 33%. The most recent revision in 2023 saw the guideline value rise again to Rs 800 per sq.ft, representing an increase of 49% from the previous revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 400%. It is important to note that the register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Vengadamangalam

Currently, there are no specific village figures available for Vengadamangalam. Chitra Nagar is one of the streets under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Chitra Nagar

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. It is important to note that duty is charged on the higher of the guideline value or 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, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical component in the property registration process in Vengadamangalam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the higher value between the guideline value and the sale price is considered for calculating the duties. This ensures that the government receives the appropriate fees based on the established guideline values.

Frequently asked questions

What is the current guideline value of Chitra Nagar?

The current guideline value of Chitra Nagar is Rs 800 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and finally returned to Rs 800 per sq.ft in 2023.

What is the land classification for Chitra Nagar?

The land classification for Chitra Nagar is Residential Special Type - II.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 72,000.

Which Sub Registrar Office covers Chitra Nagar?

The Gooduvancheri Sub Registrar Office covers Chitra Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.