Guideline Value for CHOKKALINGAM STREET

Chokkalingam Street guideline value

The current guideline value of Chokkalingam Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Chokkalingam Street has changed

The guideline value of Chokkalingam Street has undergone several revisions over the years. In 2002, the value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003, marking a change of +11%. The value saw a significant rise to Rs 1,540 per sq.ft in 2007, a change of +59%. It remained at Rs 1,540 per sq.ft until 2012 when it rose to Rs 6,500 per sq.ft, reflecting a substantial increase of +322%. The value remained unchanged at Rs 6,500 per sq.ft until the 2023 revision, when it increased to Rs 6,500 per sq.ft again, showing no change. The latest revision in 2024 set the guideline value at Rs 7,100 per sq.ft, which is a +9% increase from the previous year.

It is important to note that there is no figure available for Chokkalingam Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by +714%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Chokkalingam Street's 2024 value below the median.

• Chitrakulam West Street: Rs 11,000 per sq.ft (2024)
• Chitrakulam South Street: Rs 8,800 per sq.ft (2024)
• Chitrakulam North Street: Rs 8,800 per sq.ft (2024)
• Chitrakulam East Street: Rs 8,800 per sq.ft (2024)
• Chunnambu Kalvai Street: Rs 3,300 per sq.ft (2024)
• Cit Colony 1st Cross Street: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Chokkalingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. It is important 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 Chokkalingam Street?

The Sub Registrar Office covering Chokkalingam Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Chokkalingam Street?

The current guideline value of Chokkalingam Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 872 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of +714% over the years.

What are the stamp duty and registration fees for property in Chokkalingam Street?

For a 1,000 sq.ft plot at the current guideline value, the total fees, including stamp duty and registration fees, would amount to Rs 6,39,000.

Which office handles the registration for Chokkalingam Street?

The registration for Chokkalingam Street is handled by the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property, ensuring that the government collects appropriate stamp duty and registration fees during property transactions.