Guideline Value for Chittaranjan Salai

Chittaranjan Salai guideline value

The current guideline value of Chittaranjan Salai is Rs 15,400 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - II.

How the guideline value of Chittaranjan Salai has changed

The guideline value for Chittaranjan Salai has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 14,000 per sq.ft, which was then increased by 10% to Rs 15,400 per sq.ft in the 2024 revision.

This increase reflects the changes made in the guideline values of the area, with the most recent revision marking a significant rise from the previous year. The 2024 figure of Rs 15,400 per sq.ft is notably higher compared to the 2023 value of Rs 14,000 per sq.ft.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, positioning Chittaranjan Salai's 2024 figure above this median.

• Chockalingam 1st Street: Rs 8,700 per sq.ft (2024)
• Chockalingam 2nd Street: Rs 8,700 per sq.ft (2024)
• Chockalingam Colony 1st Cross Street: Rs 8,700 per sq.ft (2024)
• Chockalingam Colony 2nd Cross Street: Rs 8,700 per sq.ft (2024)
• Chockalingam Main Road: Rs 14,300 per sq.ft (2024)
• Chitharanjan Lane: Rs 15,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chittaranjan Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 15,400 per sq.ft, the total guideline value amounts to Rs 1,54,00,000. The stamp duty at 7% would be Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, bringing the total to Rs 13,86,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Chittaranjan Salai?

The Sub Registrar Office that covers Chittaranjan Salai is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating stamp duty and registration fees during the transaction process.

When a property is sold, the guideline value ensures that the transaction is recorded at a price that reflects the current market standards. This helps in maintaining transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Chittaranjan Salai?

The current guideline value of Chittaranjan Salai is Rs 15,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 14,000 per sq.ft in 2023 to Rs 15,400 per sq.ft in 2024, marking a 10% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft. Chittaranjan Salai's 2024 figure is above this median.

What are the stamp duty and registration fees for properties in Chittaranjan Salai?

For a property valued at Rs 1,54,00,000, the stamp duty would be Rs 10,78,000 and the registration fee would be Rs 3,08,000, totaling Rs 13,86,000. Duty is charged on the higher of the guideline value or sale price.

Which office handles registrations for Chittaranjan Salai?

The Chennai Central Joint I Sub Registrar Office handles registrations for Chittaranjan Salai, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.