Guideline Value for Chiyan Nagar

Chiyan Nagar guideline value

The current guideline value of Chiyan Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Valarpuram village under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Chiyan Nagar has changed

The guideline value for Chiyan Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 200 per sq.ft, which is the same as the 2023 revision. Prior to that, the 2017 revision recorded a guideline value of Rs 134 per sq.ft, reflecting a significant increase of 49% from 2017 to 2023. The 2012 revision also had a guideline value of Rs 200 per sq.ft, indicating a decrease of 33% from the 2012 to 2017 period. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 200 per sq.ft.

It is important to note that for the years 2002, 2003, and 2007, the register does not have any figures for Chiyan Nagar. This lack of data means that the changes in guideline value during those years cannot be assessed.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that have a guideline value for 2024, ranging from Rs 100 to Rs 2,025 per sq.ft. The median guideline value in the village is Rs 300 per sq.ft, placing Chiyan Nagar's 2024 figure below that median. The following are other streets in Valarpuram with their respective guideline values:

• Chinna Valarpuram Mainroad: Rs 400 per sq.ft (2024)
• Chettiyar Street: Rs 200 per sq.ft (2024)
• Devi Karumariamman Nagar: Rs 300 per sq.ft (2024)
• Budhar Street: Rs 200 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 300 per sq.ft (2024)
• Dharma Varadhamani Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Chiyan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chiyan Nagar?

The Sub Registrar Office that covers Chiyan Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valarpuram. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the public register.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Chiyan Nagar?

The current guideline value of Chiyan Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What are the other streets in Valarpuram and their guideline values?

Other streets in Valarpuram include Chinna Valarpuram Mainroad at Rs 400 per sq.ft, Chettiyar Street at Rs 200 per sq.ft, and Devi Karumariamman Nagar at Rs 300 per sq.ft, among others.

How is stamp duty calculated in Chiyan Nagar?

Stamp duty in Chiyan Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 2,00,000 would incur a stamp duty of Rs 14,000.

Where is the Sub Registrar Office for Chiyan Nagar located?

The Sub Registrar Office for Chiyan Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.