Guideline Value for Citilights Meadows

Citilights Meadows guideline value

The current guideline value of Citilights Meadows in 1. Nolambur village is Rs 7,100 per sq.ft, effective from 1 July 2024. This property falls under the Villivakkam SRO and is classified as Residential Special Type - I.

How the guideline value of Citilights Meadows has changed

The guideline value for Citilights Meadows has undergone several revisions over the years. The earliest available figure is from 2017, which was Rs 4,355 per sq.ft. This increased to Rs 6,500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 63%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, which is equal to the current guideline value of Citilights Meadows.

• Church Street: Rs 3,300 per sq.ft (2024)
• Dabc Abinayam Phase III: Rs 4,355 per sq.ft (2024)
• DABC Mithilam: Rs 7,100 per sq.ft (2024)
• Chinnanolambur & Other Street: Rs 3,300 per sq.ft (2024)
• Dr.J.J.Nagar Phase II (Nolambur Housing Scheme, TNHB, LIG,MIG,HIG.etc): Rs 8,800 per sq.ft (2024)
• Dr.J.J.Nagar Phase I (Jaswanth Nagar to Vembuliamman Koil St): Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Citilights Meadows

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Citilights Meadows?

The Sub Registrar Office that covers Citilights Meadows is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor in the registration process for properties in 1. Nolambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Citilights Meadows?

The current guideline value of Citilights Meadows is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 4,355 per sq.ft in 2017 to Rs 7,100 per sq.ft in 2024, representing an overall increase of 63% over these years.

What are the other streets in 1. Nolambur and their guideline values?

Other streets in 1. Nolambur have varying guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. For example, Church Street has a value of Rs 3,300 per sq.ft, while Dr.J.J.Nagar Phase II is valued at Rs 8,800 per sq.ft.

How is the stamp duty calculated for properties in Citilights Meadows?

Stamp duty for properties in Citilights Meadows is calculated at 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 4,97,000 based on the current guideline value.

Where is the Sub Registrar Office for Citilights Meadows located?

The Villivakkam Sub Registrar Office, which covers Citilights Meadows, is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.