Guideline Value for Cititbabu Street

Cititbabu Street guideline value

The current guideline value of Cititbabu Street is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Periyapanancheri village, under the Pammal SRO, and is classified as Residential Class III Type - I.

How the guideline value of Cititbabu Street has changed

The guideline value for Cititbabu Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 990 per sq.ft, which is an increase from Rs 900 per sq.ft in 2023, representing a 10% rise. Prior to that, in 2017, the value was Rs 603 per sq.ft, marking a significant increase of 49% over the six years leading up to 2023. The overall change from 2017 to 2024 is an increase of 64%.

It is important to note that there are no figures available for Cititbabu Street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Periyapanancheri

In Periyapanancheri, there are 33 streets under the Pammal SRO that have a guideline value for 2024, ranging from Rs 990 to Rs 4,925 per sq.ft. The median value among these streets is Rs 1,320 per sq.ft, placing the 2024 guideline value of Cititbabu Street below this median.

• Baraniputhur Junction Salai: Rs 1,320 per sq.ft (2024)
• Balakrishnan Street: Rs 990 per sq.ft (2024)
• Balakrishna Nagar: Rs 1,320 per sq.ft (2024)
• Gajendiran Street: Rs 1,320 per sq.ft (2024)
• Gandhi Street: Rs 2,200 per sq.ft (2024)
• Golden Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Cititbabu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty, charged at 7%, would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total cost for these fees Rs 89,100. 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 more details.

Which Sub Registrar Office covers Cititbabu Street?

The Sub Registrar Office that covers Cititbabu Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Periyapanancheri. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded at a fair value.

When a buyer purchases property in Cititbabu Street, the guideline value will be used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of ownership. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Cititbabu Street?

The current guideline value of Cititbabu Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 603 per sq.ft in 2017 to Rs 990 per sq.ft in 2024, which is a total increase of 64% over this period.

What is the land classification of Cititbabu Street?

Cititbabu Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the registration office for Cititbabu Street?

The registration office for Cititbabu Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Cititbabu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at a rate of 7%.