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Guideline Value

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Guideline Value for WEST C.I.T. 3RD MAIN 1ST STREET

₹9350/sq.ft.

The guideline value for West C.i.t. 3rd Main 1st Street in Government Farm village (Chennai South Joint I SRO, Chennai zone) is Rs 9350 per sq.ft, effective 1 July 2024. It was Rs 8500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Government Farm

Village

Chennai South Joint I

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹9350 /sq.ft.
From 1-4-2023 ₹8500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹5695 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹8500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on West C.i.t. 3rd Main 1st Street

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West C.I.T. 3rd Main 1st Street guideline value

The current guideline value of West C.I.T. 3rd Main 1st Street is Rs 9,350 per sq.ft, effective from 1 July 2024. This street is located in Government farm village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of West C.I.T. 3rd Main 1st Street has changed

The guideline value for West C.I.T. 3rd Main 1st Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 8,500 per sq.ft. This was followed by a decrease to Rs 5,695 per sq.ft in 2017. The value then increased significantly to Rs 8,500 per sq.ft in 2023, and most recently, it rose to Rs 9,350 per sq.ft in 2024, marking a 10% increase from the previous year.

In summary, the changes in guideline value from 2012 to 2024 show a net increase of 10%. The specific changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, there was an increase of 49%; and from 2023 to 2024, there was an increase of 10%. The register has no figures for the years 2002, 2003, and 2007.

Guideline values in Government farm

In Government farm, there are 35 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,850 to Rs 15,400 per sq.ft. The median value among these streets is Rs 8,250 per sq.ft, placing West C.I.T. 3rd Main 1st Street above this median.

Stamp duty and registration fee for property in West C.I.T. 3rd Main 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,350 per sq.ft, the total guideline value amounts to Rs 93,50,000. The stamp duty at 7% would be Rs 6,54,500, and the registration fee at 2% would be Rs 1,87,000, resulting in a total of Rs 8,41,500. 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 calculations.

Which Sub Registrar Office covers West C.I.T. 3rd Main 1st Street?

The Sub Registrar Office that covers West C.I.T. 3rd Main 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Government farm. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees. This ensures that the transaction is recorded accurately, reflecting the official value of the property as per government standards.

Frequently asked questions

What is the current guideline value for West C.I.T. 3rd Main 1st Street?

The current guideline value for West C.I.T. 3rd Main 1st Street is Rs 9,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,500 per sq.ft in 2012 to Rs 5,695 per sq.ft in 2017, then back to Rs 8,500 per sq.ft in 2023, and finally to Rs 9,350 per sq.ft in 2024.

What is the land classification for this street?

The land classification for West C.I.T. 3rd Main 1st Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering West C.I.T. 3rd Main 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 93,50,000, the stamp duty would be Rs 6,54,500 at a rate of 7%.