Guideline Value for CHOZHAN NAGAR

Chozhan Nagar guideline value

The current guideline value of Chozhan Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is part of Arakkampakkam village under the Avadi SRO, classified as Residential Class I Type - II.

How the guideline value of Chozhan Nagar has changed

The guideline value for Chozhan Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 201 per sq.ft. This increased significantly to Rs 300 per sq.ft in the 2023 revision, marking a change of 49%. The most recent revision in 2024 raised the guideline value to Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Arakkampakkam

In Arakkampakkam, there are five streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 385 per sq.ft. The median value among these streets is Rs 385 per sq.ft, indicating that Chozhan Nagar's 2024 figure is below this median.

• Arakathamman Nagar: Rs 385 per sq.ft (2024)
• K.J.A. Garden Annex - I: Rs 385 per sq.ft (2024)
• Sharma Nagar Layout: Rs 330 per sq.ft (2024)
• Sri Balaji Nagar: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in Chozhan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total costs together to Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chozhan Nagar?

The Sub Registrar Office covering Chozhan Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Arakkampakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Chozhan Nagar?

The current guideline value of Chozhan Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64%, from Rs 201 per sq.ft to Rs 330 per sq.ft in 2024. The most recent change was a 10% increase from Rs 300 per sq.ft in 2023.

What is the stamp duty rate for properties in Chozhan Nagar?

The stamp duty rate for properties in Chozhan Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Chozhan Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the stamp duty and registration fees. It ensures that the government receives the appropriate fees during property transactions.