Guideline Value

Corporate

Guideline Value for WEST C.I.T. NAGAR NORTH ROAD

₹9350/sq.ft.

The guideline value for West C.i.t. Nagar North 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 North Road

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West C.I.T. Nagar North Road guideline value

The current guideline value of West C.I.T. Nagar North Road is Rs 9,350 per sq.ft, effective from 1 July 2024. This road 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 I Type - I.

How the guideline value of West C.I.T. Nagar North Road has changed

Over the years, the guideline value of West C.I.T. Nagar North Road has seen several revisions. The 2012 revision set the value at Rs 8,500 per sq.ft, which then changed 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, a rise of 49%. The most recent revision in 2024 has set the guideline 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 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Government farm

The Government farm village has 35 streets under the Chennai South Joint I SRO, with 2024 guideline values 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, making the current guideline value of West C.I.T. Nagar North Road above the median.

Stamp duty and registration fee for property in West C.I.T. Nagar North 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 to Rs 8,41,500. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West C.I.T. Nagar North Road?

The West C.I.T. Nagar North 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 when buying or selling property in the Government farm area. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a buyer approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency in property transactions and helps in maintaining accurate records for the government.

Frequently asked questions

What is the current guideline value of West C.I.T. Nagar North Road?

The current guideline value of West C.I.T. Nagar North 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 from Rs 8,500 per sq.ft in 2012 to Rs 5,695 per sq.ft in 2017, then to Rs 8,500 per sq.ft in 2023, and finally to Rs 9,350 per sq.ft in 2024.

What are the stamp duty and registration fees for property transactions?

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.

Which office handles registrations for West C.I.T. Nagar North Road?

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

What is the significance of the guideline value?

The guideline value is used to determine the minimum registration value for property transactions, ensuring that appropriate stamp duty and registration fees are collected by the government during the sale or purchase of properties.