Guideline Value for CHOCKALINGAM STREET

Chockalingam Street guideline value

The current guideline value of Chockalingam Street, located in Nanmangalam village, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class I Type - III.

How the guideline value of Chockalingam Street has changed

The guideline value for Chockalingam Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased significantly to Rs 1,800 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the revisions in 2002, 2003, and 2007 for Chockalingam Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value across these streets is Rs 2,750 per sq.ft, placing Chockalingam Street's 2024 figure below this median.

• Chormpet Salai 1 To 3 Street: Rs 3,850 per sq.ft (2024)
• Cromepet Nanmangalam Road: Rs 2,750 per sq.ft (2024)
• Bramin Street: Rs 2,750 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 2,750 per sq.ft (2024)
• Bharathi Street: Rs 1,960 per sq.ft (2024)
• Durga Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Chockalingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Chockalingam Street?

The Sub Registrar Office that covers Chockalingam Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when finalizing the sale price to ensure compliance with registration regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that both parties are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Chockalingam Street?

The current guideline value of Chockalingam Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Chockalingam Street?

Chockalingam Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Chockalingam Street?

The Sub Registrar Office for Chockalingam Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Chockalingam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,980 per sq.ft, the stamp duty would be Rs 1,38,600.