Guideline Value for Chittrasu Street Main

Chittrasu Street Main guideline value

The current guideline value of Chittrasu Street Main is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO and is classified as Residential Class II Type - I.

How the guideline value of Chittrasu Street Main has changed

The guideline value of Chittrasu Street Main has seen several revisions over the years. In 2003, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2007. Following this, the value rose to Rs 2,500 per sq.ft in 2012, before dropping to Rs 1,675 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, and then to Rs 2,800 per sq.ft in 2024, marking a 12% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1020%. The register has no figure for the year 2002 for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, which is the same as the current value for Chittrasu Street Main.

• Chittrasu Cross Street: Rs 2,200 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 Street Main

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty, charged at 7%, would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chittrasu Street Main?

The Sub Registrar Office that covers Chittrasu Street Main 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 is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered alongside the sale price to ensure that the appropriate fees are calculated based on the higher amount. This ensures compliance with local regulations and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Chittrasu Street Main?

The current guideline value of Chittrasu Street Main is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1020% over the years.

What are the other streets in Ullagaram with similar guideline values?

Other streets in Ullagaram with similar guideline values include Bhavani Colony / Venkatesa Nagar and Bharathiyar Street, both at Rs 2,800 per sq.ft in 2024.

How is the stamp duty calculated for properties in Chittrasu Street Main?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000.

Where can I find the Sub Registrar Office for Chittrasu Street Main?

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