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Guideline Value

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Guideline Value for WEST C.I.T. NAGAR 1ST MAIN ROAD

₹11000/sq.ft.

The guideline value for West C.i.t. Nagar 1st Main Road in Government Farm village (Chennai South Joint I SRO, Chennai zone) is Rs 11000 per sq.ft, effective 1 July 2024. It was Rs 10000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Government Farm

Village

Chennai South Joint I

SRO

Commercial Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹11000 /sq.ft.
From 1-4-2023 ₹10000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹6700 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹10000 /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. Nagar 1st Main Road

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West C.I.T. Nagar 1st Main Road guideline value

The current guideline value of West C.I.T. Nagar 1st Main Road is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in the Government farm village under the Chennai South Joint I SRO, and it falls under the Commercial Class I Type - II land classification.

How the guideline value of West C.I.T. Nagar 1st Main Road has changed

Starting from the 2012 revision, the guideline value for West C.I.T. Nagar 1st Main Road was Rs 10,000 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 6,700 per sq.ft. The value then increased to Rs 10,000 per sq.ft in 2012, and further rose to Rs 10,000 per sq.ft in 2023. The most recent revision in 2024 saw a significant increase to Rs 11,000 per sq.ft, marking a 10% rise from the previous year.

Between the revisions, the changes were notable: from 2017 to 2023, there was a 49% increase, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Government farm

The Government farm village has 35 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,850 to Rs 15,400 per sq.ft. The median guideline value is Rs 8,250 per sq.ft, placing West C.I.T. Nagar 1st Main Road's 2024 figure above this median.

Stamp duty and registration fee for property in West C.I.T. Nagar 1st Main Road

For a 1,000 sq.ft plot at the current rate of Rs 11,000 per sq.ft, the guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West C.I.T. Nagar 1st Main Road?

The West C.I.T. Nagar 1st Main Road falls under 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 information.

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

The guideline value is a crucial factor during property registration in Government farm. It determines the minimum value at which the property can be registered, impacting the stamp duty and registration fees payable by the buyer.

When buying or selling property, it is essential to consider the guideline value as it ensures compliance with local regulations. Buyers should be aware that the stamp duty is calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of West C.I.T. Nagar 1st Main Road?

The current guideline value of West C.I.T. Nagar 1st Main Road is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes: it was Rs 10,000 per sq.ft in 2012, decreased to Rs 6,700 per sq.ft in 2017, and then increased to Rs 10,000 per sq.ft in 2023, before reaching Rs 11,000 per sq.ft in 2024.

What is the land classification for West C.I.T. Nagar 1st Main Road?

West C.I.T. Nagar 1st Main Road is classified as Commercial Class I Type - II, which influences its guideline value and usage.

Where can I find the registration office for properties in this area?

The registration office for properties in West C.I.T. Nagar 1st Main Road 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 the stamp duty calculated for properties in West C.I.T. Nagar 1st Main Road?

The stamp duty for properties in West C.I.T. Nagar 1st Main Road is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% based on the same criteria.