Guideline Value for Dr.Chandra Nagar

Dr.Chandra Nagar guideline value

The current guideline value of Dr.Chandra Nagar, located in Maakaanyam village, under the Sriperumpudur SRO, is Rs 250 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is New House Site Type -II (Unapproved Lay-Out).

How the guideline value of Dr.Chandra Nagar has changed

Over the years, the guideline value of Dr.Chandra Nagar has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was reduced by 33% from Rs 250 per sq.ft to Rs 167 per sq.ft. The subsequent revisions in 2023 and 2024 both maintained the value at Rs 250 per sq.ft, resulting in a 50% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged, reflecting a stable value of Rs 250 per sq.ft.

Guideline values in Maakaanyam

In Maakaanyam, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 600 per sq.ft. The median value for these streets is Rs 250 per sq.ft, making the 2024 guideline value for Dr.Chandra Nagar equal to this median.

• Crystal Park: Rs 500 per sq.ft (2024)
• Cross Street: Rs 110 per sq.ft (2024)
• Colony Bajanai Koil Street: Rs 100 per sq.ft (2024)
• Ganesh Nagar: Rs 500 per sq.ft (2024)
• Gokulam Nagar: Rs 200 per sq.ft (2024)
• Grama Main Road: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.Chandra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total charges to Rs 22,500. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr.Chandra Nagar?

The Sub Registrar Office that covers Dr.Chandra 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 Maakaanyam

The guideline value plays a crucial role in the registration process when buying or selling property in Maakaanyam. It is the benchmark used to determine the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and compliance with local regulations during the property transfer process.

Frequently asked questions

What is the current guideline value of Dr.Chandra Nagar?

The current guideline value of Dr.Chandra Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent changes reflecting a 50% increase from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023 and 2024.

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

Other streets in Maakaanyam have varying guideline values, ranging from Rs 100 to Rs 600 per sq.ft. For example, Crystal Park is valued at Rs 500 per sq.ft, while Colony Bajanai Koil Street is at Rs 100 per sq.ft.

What are the stamp duty and registration fees for property in Dr.Chandra Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500.

Which office handles the registration for Dr.Chandra Nagar?

The Sriperumpudur Sub Registrar Office handles the registration for Dr.Chandra Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.