Guideline Value for CHOZHAN NAGAR

Chozhan Nagar guideline value

The current guideline value of Chozhan Nagar, located in Minjur village under the Ponneri SRO, is Rs 880 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Chozhan Nagar has changed

The guideline value of Chozhan Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 536 per sq.ft, which increased to Rs 800 per sq.ft in 2023. The latest revision in 2024 raised the guideline value to Rs 880 per sq.ft, marking a 10% increase from the previous year. Overall, the value has increased by 64% from 2017 to 2024.

There are no figures available for Chozhan Nagar in the revisions from 2002, 2003, 2007, and 2012. The increase from 2017 to 2023 was 49%, reflecting a substantial rise in the guideline value during that period.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median value for these streets is Rs 550 per sq.ft, placing Chozhan Nagar's 2024 figure above that median.

• C.K.G. Nagar: Rs 550 per sq.ft (2024)
• C.S.S. Chetty Nagar Part: Rs 440 per sq.ft (2024)
• D.B.R Nagar: Rs 550 per sq.ft (2024)
• Deepika Avenue: Rs 580 per sq.ft (2024)
• Deva Avenue: Rs 550 per sq.ft (2024)
• Dhanabagyam Nagar: Rs 770 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chozhan Nagar?

The Sub Registrar Office that covers Chozhan Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Minjur. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value serves as a reference point for calculating these fees. Buyers and sellers must be aware of the current guideline value to ensure they are prepared for the associated costs during the transaction.

Frequently asked questions

What is the current guideline value of Chozhan Nagar?

The current guideline value of Chozhan Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, marking a total increase of 64% over this period.

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

For a 1,000 sq.ft plot at the guideline value of Rs 880 per sq.ft, the total guideline value is Rs 8,80,000. The stamp duty is Rs 61,600, and the registration fee is Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Chozhan Nagar?

The Ponneri Sub Registrar Office covers Chozhan Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification for Chozhan Nagar?

Chozhan Nagar falls under the Residential Class I Type - I land classification, indicating its suitability for residential development.