Guideline Value for CHOZHAN SALAI

Chozhan Salai guideline value

The current guideline value of Chozhan Salai is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class IV Type - II.

How the guideline value of Chozhan Salai has changed

The guideline value of Chozhan Salai has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the current 2024 revision has raised it further to Rs 1,100 per sq.ft. The register has no figure for this street in 2002, 2003, or 2007.

From 2017 to 2023, the guideline value increased by 49%. The increase from 2023 to 2024 is 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. Chozhan Salai's 2024 figure is below this median.

• Chinna Mathi Garden: Rs 1,100 per sq.ft (2024)
• Chinnadurai Garden: Rs 1,700 per sq.ft (2024)
• Dac Silicon Valley: Rs 4,100 per sq.ft (2024)
• Cheran Street: Rs 1,700 per sq.ft (2024)
• Chemmenchery Thope: Rs 1,700 per sq.ft (2024)
• Chemmanchery Estate: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chozhan Salai

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chozhan Salai?

The Sub Registrar Office that covers Chozhan Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chemmancheri. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented according to the prescribed rates.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chozhan Salai?

The current guideline value of Chozhan Salai is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 in 2012 to Rs 670 in 2017, then to Rs 1,000 in 2023, and finally to Rs 1,100 in 2024. The changes reflect a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023.

What is the median guideline value in Chemmancheri?

The median guideline value in Chemmancheri is Rs 1,700 per sq.ft for the year 2024. Chozhan Salai's current value is below this median.

What are the stamp duty and registration fees for Chozhan Salai?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000. This is based on the current guideline value of Rs 1,100 per sq.ft.

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

The Neelankarai Sub Registrar Office covers Chozhan Salai and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.