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 2 village under the Chennai Central Joint I SRO, and it is classified as Commercial Special Type - II.

How the guideline value of Chittaranjan Salai has changed

The guideline value for Chittaranjan Salai has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revision was in 2023, where the guideline value was Rs 14,000 per sq.ft, which increased by 10% to Rs 15,400 per sq.ft in the 2024 revision.

Prior to the 2023 revision, the last recorded figure was Rs 14,000 per sq.ft. The increase from 2023 to 2024 reflects a significant change in the guideline value. The current figure of Rs 15,400 per sq.ft is now above the median value for streets in Mylapore Part 2.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a total of 332 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, placing 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 would be Rs 1,54,00,000. The stamp duty at 7% would amount to Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, bringing the total fees to Rs 13,86,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

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. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore Part 2. It is used to determine the stamp duty and registration fees that must be paid, ensuring that all transactions are compliant with local regulations.

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 for Chittaranjan Salai has changed from Rs 14,000 per sq.ft in 2023 to Rs 15,400 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Chittaranjan Salai?

Chittaranjan Salai is classified as Commercial Special Type - II. This classification can influence the guideline value and the usage of the property.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 1,54,00,000, the total fees would amount to Rs 13,86,000.

Where can I find the Sub Registrar Office for Chittaranjan Salai?

The Sub Registrar Office for Chittaranjan Salai is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more details online.