Guideline Value for chinnaraj nagar

Chinnaraj Nagar guideline value

The current guideline value of Chinnaraj Nagar is Rs 2,740 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class I Type - I.

How the guideline value of Chinnaraj Nagar has changed

The guideline value for Chinnaraj Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 525%. However, this value decreased to Rs 1,675 per sq.ft in 2017, representing a decline of 33%. The value then increased sharply to Rs 2,500 per sq.ft in 2023, and most recently to Rs 2,740 per sq.ft in 2024, showing a change of 10%.

Overall, from 2007 to 2024, the guideline value has increased by 585%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft. Chinnaraj Nagar's 2024 guideline value is above this median.

• Chinnappa Nagar: Rs 2,740 per sq.ft (2024)
• Chinnamasudhi street: Rs 2,740 per sq.ft (2024)
• Chetti street: Rs 3,250 per sq.ft (2024)
• Churchcross Street: Rs 2,200 per sq.ft (2024)
• Chakramangala Nagar: Rs 2,740 per sq.ft (2024)
• CRM nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnaraj Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,740 per sq.ft, the guideline value amounts to Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, totaling Rs 2,46,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Chinnaraj Nagar?

The Sub Registrar Office that covers Chinnaraj Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value can affect the overall cost of the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process is aligned with the current market conditions as reflected in the guideline values.

Frequently asked questions

What is the current guideline value of Chinnaraj Nagar?

The current guideline value of Chinnaraj Nagar is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, marking an overall increase of 585% over the years.

What are the other streets with similar guideline values in Poonthamallee?

Other streets in Poonthamallee with similar guideline values include Chinnappa Nagar, Chinnamasudhi street, and Chakramangala Nagar, all at Rs 2,740 per sq.ft in 2024.

How is the stamp duty calculated for properties in Chinnaraj Nagar?

Stamp duty for properties in Chinnaraj Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 27,40,000 would incur a stamp duty of Rs 1,91,800.

Where can I find my Sub Registrar Office?

The Sub Registrar Office covering Chinnaraj Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find further details through the provided link.