Guideline Value for New Plot Extension Road

New Plot Extension Road guideline value

The current guideline value of New Plot Extension Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This road is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class II Type - II.

How the guideline value of New Plot Extension Road has changed

The guideline value for New Plot Extension Road has seen several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in the 2017 revision. The value then increased to Rs 1,000 per sq.ft in the 2023 revision, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in the village is Rs 1,650 per sq.ft, making the 2024 figure for New Plot Extension Road below that median.

• New Plot Division: Rs 1,100 per sq.ft (2024)
• Nisha Avenue: Rs 3,300 per sq.ft (2024)
• Nisha Avenue Extention-1: Rs 3,520 per sq.ft (2024)
• Nethaji subash santhiraposh street: Rs 1,100 per sq.ft (2024)
• Neru street (M.G.R Nagar 1st kulakkarai street varai): Rs 1,100 per sq.ft (2024)
• Nelson Mandela Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in New Plot Extension Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Plot Extension Road?

The Sub Registrar Office that covers New Plot Extension Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a crucial factor during the registration of property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller approaches the Sub Registrar Office for registration, the guideline value is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of New Plot Extension Road?

The current guideline value of New Plot Extension Road is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft in 2024.

What is the land classification for New Plot Extension Road?

New Plot Extension Road is classified as Residential Class II Type - II.

How does the guideline value compare to other streets in Chitlapakkam?

The guideline value for New Plot Extension Road is Rs 1,100 per sq.ft, which is below the median value of Rs 1,650 per sq.ft for the 548 streets in Chitlapakkam under the Tambaram Joint 1 SRO.

Where can I find the Sub Registrar Office for New Plot Extension Road?

The Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information by visiting the relevant link.