Guideline Value for Sri Chakra Nagar Ist Road to 25th Road

Sri Chakra Nagar Ist Road to 25th Road guideline value

The current guideline value for Sri Chakra Nagar Ist Road to 25th Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Chakra Nagar Ist Road to 25th Road has changed

The guideline value for this street has undergone several revisions over the years. The earliest recorded revision was in 2017, with a value of Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a significant change of 49%. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that there are no recorded figures for this street in the years 2002, 2003, 2007, and 2012.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing the guideline value for Sri Chakra Nagar Ist Road to 25th Road above this median.

• Srichakra Nagar part I: Rs 1,540 per sq.ft (2024)
• Sri Chakra Nagar Part II: Rs 2,200 per sq.ft (2024)
• Sri Chakra Nagar Part V: Rs 2,200 per sq.ft (2024)
• Sri Chakra Nagar Part VI: Rs 2,200 per sq.ft (2024)
• Sri Guru Avenue: Rs 2,350 per sq.ft (2024)
• Sri Ashok Avenue: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Chakra Nagar Ist Road to 25th Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, calculated at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Chakra Nagar Ist Road to 25th Road?

The Sub Registrar Office that covers Sri Chakra Nagar Ist Road to 25th Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor in the registration process when buying or selling property in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer is required to pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value.

Frequently asked questions

What is the current guideline value for Sri Chakra Nagar Ist Road to 25th Road?

The current guideline value for Sri Chakra Nagar Ist Road to 25th Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 64%, rising from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft.

What are the stamp duty rates for property in this area?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value for streets in Mangadu -A?

The median guideline value for the 208 streets in Mangadu -A is Rs 1,870 per sq.ft, with the guideline value for Sri Chakra Nagar Ist Road to 25th Road being above this median.