Guideline Value

Corporate

Guideline Value for WEST C.I.T. NAGAR 1ST STREET

₹8250/sq.ft.

The guideline value for West C.i.t. Nagar 1st Street in Government Farm village (Chennai South Joint I SRO, Chennai zone) is Rs 8250 per sq.ft, effective 1 July 2024. It was Rs 7500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Government Farm

Village

Chennai South Joint I

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹8250 /sq.ft.
From 1-4-2023 ₹7500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹5025 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹7500 /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 Street

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West C.I.T. Nagar 1st Street guideline value

The current guideline value of West C.I.T. Nagar 1st Street is Rs 8,250 per sq.ft, effective from 1 July 2024. This street is located in the Government farm village under the Chennai South Joint I SRO, classified as Residential Class II Type - I.

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

The guideline value for West C.I.T. Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 7,500 per sq.ft, which decreased to Rs 5,025 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 7,500 per sq.ft, and the latest 2024 revision has raised it further to Rs 8,250 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The latest increase from 2023 to 2024 is 10%, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Government farm

In the Government farm village, there are 35 streets under the Chennai South Joint I SRO that carry 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, which is the same as the current guideline value for West C.I.T. Nagar 1st Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 8,250 per sq.ft, the total guideline value would be Rs 82,50,000. The stamp duty at 7% would amount to Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, resulting in a total of Rs 7,42,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

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

The West C.I.T. Nagar 1st Street falls under the jurisdiction of 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 aspect when registering property transactions in Government farm. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is recorded accurately and in compliance with local regulations. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of West C.I.T. Nagar 1st Street is Rs 8,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,500 per sq.ft in 2012 to Rs 5,025 per sq.ft in 2017, then increased to Rs 7,500 per sq.ft in 2023, and finally to Rs 8,250 per sq.ft in 2024.

What are the other streets in Government farm with guideline values?

Other streets in Government farm include West C.I.T. Nagar 1st Main Road, West C.I.T. Nagar 2nd Cross Street, West C.I.T. Nagar 1st Cross Street, West C.I.T. Nagar 2nd Main Road, West C.I.T. 3rd Main 2nd Street, and West C.I.T. Nagar 2nd Street, each with their respective guideline values.

What is the stamp duty for a property on West C.I.T. Nagar 1st Street?

The stamp duty for a property on West C.I.T. Nagar 1st Street is calculated at 7% of the guideline value. For example, for a property valued at Rs 82,50,000, the stamp duty would be Rs 5,77,500.

Which office handles registrations for West C.I.T. Nagar 1st Street?

The registrations for West C.I.T. Nagar 1st Street are handled by 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.