Guideline Value for Chittrasu Cross Street

Chittrasu Cross Street guideline value

The current guideline value of Chittrasu Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Chittrasu Cross Street has changed

The guideline value for Chittrasu Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 172 per sq.ft, which increased to Rs 193 per sq.ft in 2003. The next significant jump occurred in 2007, where the value rose to Rs 1,000 per sq.ft. Following that, in 2012, the value was Rs 2,000 per sq.ft, but it then decreased to Rs 1,340 per sq.ft in 2017. The value saw a notable increase to Rs 2,000 per sq.ft in 2023, and it has now reached Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,179%. The revisions for the years 2012 to 2017 showed a decrease of 33%, while the jump from 2003 to 2007 was a substantial 418%. There are no figures available for the years not mentioned in this list.

Guideline values in Ullagaram

In Ullagaram village, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. Chittrasu Cross Street's 2024 figure is below this median.

• Chittrasu Street Main: Rs 2,800 per sq.ft (2024)
• Chozhan Cross Street: Rs 2,200 per sq.ft (2024)
• Chozhan Street Main: Rs 2,200 per sq.ft (2024)
• Bhavani Colony / Venkatesa Nagar: Rs 2,800 per sq.ft (2024)
• Bharathiyar Street: Rs 2,800 per sq.ft (2024)
• Bharathi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Chittrasu Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Therefore, the total cost for stamp duty and registration fee together would be Rs 1,98,000. It is important to note that the 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 Chittrasu Cross Street?

The Sub Registrar Office that covers Chittrasu Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

During the registration process, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, and it is essential for buyers and sellers to be aware of the current guideline values in their respective areas.

Frequently asked questions

What is the current guideline value of Chittrasu Cross Street?

The current guideline value of Chittrasu Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 172 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 1,179% over this period.

What are the stamp duty and registration fees for properties in Chittrasu Cross Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fee would amount to Rs 1,98,000.

Which Sub Registrar Office covers Chittrasu Cross Street?

The Alandur Sub Registrar Office covers Chittrasu Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Chittrasu Cross Street?

Chittrasu Cross Street falls under the Residential Class II Type - II land classification.