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Guideline Value

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Guideline Value for WEST C.I.T. NAGAR 2ND MAIN ROAD

₹9350/sq.ft.

The guideline value for West C.i.t. Nagar 2nd Main Road 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. Nagar 2nd Main Road

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West C.I.T. Nagar 2nd Main Road guideline value

The current guideline value of West C.I.T. Nagar 2nd Main Road is Rs 9,350 per sq.ft, effective from 1 July 2024. This street is located in Government farm village under the Chennai South Joint I SRO. It falls under the Residential Class I Type - I land classification.

How the guideline value of West C.I.T. Nagar 2nd Main Road has changed

The guideline value for West C.I.T. Nagar 2nd Main Road has seen several revisions over the years. In 2012, the guideline value was Rs 8,500 per sq.ft. This figure was revised to Rs 5,695 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 8,500 per sq.ft, which was a rise of 49%. The most recent revision in 2024 set the value at Rs 9,350 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Government farm

In 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 for these streets is Rs 8,250 per sq.ft, placing West C.I.T. Nagar 2nd Main Road above this median.

Stamp duty and registration fee for property in West C.I.T. Nagar 2nd Main Road

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, bringing the total fees to Rs 8,41,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West C.I.T. Nagar 2nd Main Road?

The Sub Registrar Office that covers West C.I.T. Nagar 2nd 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, Chennai registration zone.

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 registering a property in Government farm. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of West C.I.T. Nagar 2nd Main Road 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 several times, with the most recent revision in 2024 increasing it to Rs 9,350 per sq.ft from Rs 8,500 per sq.ft in 2023. The value has also seen a significant rise from Rs 5,695 per sq.ft in 2017.

What is the land classification for West C.I.T. Nagar 2nd Main Road?

West C.I.T. Nagar 2nd Main Road falls under the Residential Class I Type - I land classification.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 93,50,000, the stamp duty would be Rs 6,54,500 and the registration fee would be Rs 1,87,000, totaling Rs 8,41,500.

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

The Sub Registrar Office for West C.I.T. Nagar 2nd 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.