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Guideline Value

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Guideline Value for WEST C.I.T. NAGAR 4TH MAIN ROAD

₹8250/sq.ft.

The guideline value for West C.i.t. Nagar 4th Main Road 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 4th Main Road

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West C.I.T. Nagar 4th Main Road guideline value

The current guideline value for West C.I.T. Nagar 4th Main Road is Rs 8,250 per sq.ft, effective from 1 July 2024. This street is located in the 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 4th Main Road has changed

The guideline value for West C.I.T. Nagar 4th Main Road has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 7,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 5,025 per sq.ft. The value then increased significantly to Rs 7,500 per sq.ft in 2023, marking a 49% rise since 2017. The most recent revision in 2024 set the guideline value at Rs 8,250 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures 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 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 guideline value for these streets is Rs 8,250 per sq.ft, which is equal to the current figure for West C.I.T. Nagar 4th Main Road.

Stamp duty and registration fee for property in West C.I.T. Nagar 4th Main Road

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, making the total charges 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.

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

Which Sub Registrar Office covers West C.I.T. Nagar 4th Main Road?

The West C.I.T. Nagar 4th 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 plays a crucial role during the registration process of property transactions in Government farm. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value that the property is registered at, which can impact negotiations and the overall transaction process.

Frequently asked questions

What is the current guideline value for West C.I.T. Nagar 4th Main Road?

The current guideline value for West C.I.T. Nagar 4th Main Road 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 stamp duty and registration fees for buying property here?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would amount to Rs 7,42,500.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers West C.I.T. Nagar 4th Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a standardized valuation to ensure that these charges are based on a fair assessment of the property's worth.