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Guideline Value

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Guideline Value for WEST C.I.T. NAGAR 2ND CROSS STREET

₹8250/sq.ft.

The guideline value for West C.i.t. Nagar 2nd Cross 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 2nd Cross Street

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West C.I.T. Nagar 2nd Cross Street guideline value

The current guideline value of West C.I.T. Nagar 2nd Cross Street is Rs 8,250 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 II Type - I.

How the guideline value of West C.I.T. Nagar 2nd Cross Street has changed

Over the years, the guideline value for West C.I.T. Nagar 2nd Cross Street has seen several revisions. The 2012 revision set the value at Rs 7,500 per sq.ft, which then decreased to Rs 5,025 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 7,500 per sq.ft in the 2023 revision, and further rose to Rs 8,250 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street. The 2023 to 2024 change represents a 10% increase, while the change from 2017 to 2023 was a substantial 49% increase. The 2012 to 2017 period saw a decrease of 33% in the guideline value.

Guideline values in Government farm

In Government farm, there are 35 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,850 to Rs 15,400 per sq.ft, with a median value of Rs 8,250 per sq.ft. The guideline value for West C.I.T. Nagar 2nd Cross Street aligns with this median.

Stamp duty and registration fee for property in West C.I.T. Nagar 2nd Cross 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, bringing the total to Rs 7,42,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers West C.I.T. Nagar 2nd Cross Street?

The Sub Registrar Office that covers West C.I.T. Nagar 2nd Cross 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 information.

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

The guideline value is a crucial factor when buying or selling property in Government farm. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property.

When a property transaction occurs, the registration office will use the guideline value to calculate the applicable fees, ensuring that all transactions are recorded accurately. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of West C.I.T. Nagar 2nd Cross Street?

The current guideline value of West C.I.T. Nagar 2nd Cross 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 back to Rs 7,500 per sq.ft in 2023, and finally to Rs 8,250 per sq.ft in 2024.

What is the land classification for West C.I.T. Nagar 2nd Cross Street?

The land classification for West C.I.T. Nagar 2nd Cross Street is Residential Class II Type - I.

Which office handles registrations for properties in this area?

The Chennai South Joint I Sub Registrar Office handles registrations for properties in West C.I.T. Nagar 2nd Cross Street.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 82,50,000 would incur a stamp duty of Rs 5,77,500.