Guideline Value for CHOKKAMMAN STREET

Chokkamman Street guideline value

The current guideline value of Chokkamman Street is Rs 150 per sq.ft, effective from the 2024 revision. This street is located in Salavakkam village, under the Salavakkam SRO, and is classified as Residential Class I Type - III.

How the guideline value of Chokkamman Street has changed

The guideline value for Chokkamman Street has undergone several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 150 per sq.ft. The 2017 revision saw a decrease to Rs 100 per sq.ft, marking a 33% drop from the 2012 figure. From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 150 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 150 per sq.ft, reflecting no change from the 2023 revision. The register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO with a guideline value for 2024 ranging from Rs 100 to Rs 250 per sq.ft. The median value is Rs 150 per sq.ft, placing Chokkamman Street's guideline value equal to this median.

• Chetti Street: Rs 126 per sq.ft (2024)
• Chandar Nagar Phase-I,II,III: Rs 150 per sq.ft (2024)
• Chandar Nagar Phase-4: Rs 150 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 126 per sq.ft (2024)
• Dhanalakshmi Nagar Extension -I: Rs 200 per sq.ft (2024)
• Bazaar Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Chokkamman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. 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 Chokkamman Street?

The Sub Registrar Office that covers Chokkamman Street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Salavakkam. It serves as a reference point for determining the stamp duty and registration fees when buying or selling property. The registration process requires that these fees be calculated based on the guideline value or the sale price, whichever is higher.

When a buyer or seller engages in a property transaction, understanding the guideline value helps ensure compliance with local regulations. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chokkamman Street?

The current guideline value of Chokkamman Street is Rs 150 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft since 2012, with a drop to Rs 100 per sq.ft in 2017, followed by a return to Rs 150 per sq.ft in 2023. The 2024 revision also maintains this value.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 10,500, and the registration fee would be Rs 3,000, totaling Rs 13,500.

Which office handles registrations for Chokkamman Street?

The Salavakkam Sub Registrar Office handles registrations for Chokkamman Street, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

What is the land classification of Chokkamman Street?

Chokkamman Street is classified as Residential Class I Type - III, indicating its designation for residential use within the Salavakkam village.