Guideline Value for CHOKKALINGAM NAGAR

Chokkalingam Nagar guideline value

The current guideline value of Chokkalingam Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Padappai village and falls under the Padappai SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Chokkalingam Nagar has changed

The guideline value for Chokkalingam Nagar has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 1,200 per sq.ft, which was then increased by 10% to Rs 1,320 per sq.ft in the 2024 revision.

In summary, the guideline value increased from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. The consistent upward revision reflects changes in the property landscape in the area.

Guideline values in Padappai

Padappai village has a total of 146 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value in the village is Rs 830 per sq.ft, placing Chokkalingam Nagar's 2024 figure above this median.

• Chidambaram Nagar: Rs 830 per sq.ft (2024)
• Chennai Teachers Guild City Phase-I: Rs 740 per sq.ft (2024)
• David Nagar: Rs 3,300 per sq.ft (2024)
• Car Street: Rs 830 per sq.ft (2024)
• B.M.D.Nagar: Rs 1,320 per sq.ft (2024)
• Bikshi Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Chokkalingam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees together Rs 1,18,800. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Chokkalingam Nagar?

The Sub Registrar Office that covers Chokkalingam Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Padappai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications of the transaction. This helps in maintaining transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Chokkalingam Nagar?

The current guideline value of Chokkalingam Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Chokkalingam Nagar?

The land classification for Chokkalingam Nagar is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Chokkalingam Nagar?

The Sub Registrar Office for Chokkalingam Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400.