Guideline Value for CHOCKALINGAM STREET (GRAMA NEDUNCHALAI 7TH CROSS STREET)

Chockalingam Street (Grama Nedunchalai 7th Cross Street) guideline value

The current guideline value of Chockalingam Street (Grama Nedunchalai 7th Cross Street) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of Chockalingam Street (Grama Nedunchalai 7th Cross Street) has changed

The guideline value for Chockalingam Street has seen significant changes over the years. In the 2017 revision, the value was set at Rs 1,340 per sq.ft. With the latest revision in 2024, the guideline value increased to Rs 2,200 per sq.ft, marking a change of +64% from the previous figure.

It is important to note that there are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. The 2024 figure of Rs 2,200 per sq.ft is aligned with the median value of Rs 2,200 per sq.ft for the 754 streets in Sholinganallur - 1 under the Neelankarai SRO.

Guideline values in Sholinganallur - 1

In the Sholinganallur - 1 village, the guideline values range from Rs 1,000 to Rs 8,800 per sq.ft, with a median of Rs 2,200 per sq.ft. Chockalingam Street's 2024 figure matches this median value. Below are some other streets in Sholinganallur - 1:

• Chidambaram Nagar Main Street: Rs 4,400 per sq.ft (2024)
• Chidambaram Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Chidambaram Co-Operative Housing Society Colony: Rs 4,400 per sq.ft (2024)
• Cherian Thottam: Rs 1,700 per sq.ft (2024)
• Classic Farms: Rs 4,400 per sq.ft (2024)
• Classic Retreat: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chockalingam Street (Grama Nedunchalai 7th Cross Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chockalingam Street (Grama Nedunchalai 7th Cross Street)?

The Sub Registrar Office that covers Chockalingam Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a critical factor in the registration process when buying or selling property in Sholinganallur - 1. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer and seller must declare the sale price, and the higher value between the guideline value and the sale price is used to calculate the applicable duties. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Chockalingam Street?

The current guideline value of Chockalingam Street (Grama Nedunchalai 7th Cross Street) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value for Chockalingam Street has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, which is a change of +64%.

Are there any revisions without figures for Chockalingam Street?

Yes, the register has no figures for Chockalingam Street for the years 2023, 2012, 2007, 2003, and 2002.

What is the registration office for Chockalingam Street?

The registration office for Chockalingam Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Chockalingam Street?

Stamp duty for properties in Chockalingam Street is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.