Guideline Value for CHOZHAN NAGAR

Chozhan Nagar guideline value

The current guideline value of Chozhan Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Mepur village and falls under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Chozhan Nagar has changed

The guideline value for Chozhan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which was then decreased to Rs 469 per sq.ft in the 2017 revision. However, the 2023 revision increased it to Rs 700 per sq.ft, followed by a further increase to Rs 770 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%. The guideline value register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mepur

In Mepur village, there are 22 streets under the Kunrathur SRO that have a 2024 guideline value, ranging from Rs 550 to Rs 2,955 per sq.ft. The guideline value for Chozhan Nagar is equal to the median of Rs 770 per sq.ft.

• Dr Koushik Enclave: Rs 1,480 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 770 per sq.ft (2024)
• Golden City: Rs 770 per sq.ft (2024)
• Andalkuppam (Pillayar Koil St): Rs 770 per sq.ft (2024)
• Kasthuri Sriram Nagar: Rs 820 per sq.ft (2024)
• Madheena Garden: Rs 820 per sq.ft (2024)

Stamp duty and registration fee for property in Chozhan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. 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 details.

Which Sub Registrar Office covers Chozhan Nagar?

The Sub Registrar Office that covers Chozhan Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Mepur, as it determines the stamp duty and registration fees payable. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during property transactions.

When a property is bought or sold, the guideline value acts as a benchmark for the transaction. It is essential for both parties to understand how this value influences the overall costs associated with the registration process.

Frequently asked questions

What is the current guideline value of Chozhan Nagar?

The current guideline value of Chozhan Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Chozhan Nagar?

Chozhan Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in Chozhan Nagar?

For a property valued at Rs 7,70,000, the stamp duty is Rs 53,900 and the registration fee is Rs 15,400, totaling Rs 69,300.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles all property registrations for the area.