Guideline Value for CHOZHAN STREET (WARD -5)

Chozhan Street (Ward -5) guideline value

The current guideline value of Chozhan Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Chozhan Street (Ward -5) has changed

Over the years, the guideline value of Chozhan Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. In 2023, the value increased significantly to Rs 1,200 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,320 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 reflects a 10% increase, highlighting the fluctuations in the guideline value over the years.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Chozhan Street's 2024 figure above this median.

• Chitra Nagar (Sa): Rs 440 per sq.ft (2024)
• Cmda Layout Nennaikarai (Ward -3): Rs 1,320 per sq.ft (2024)
• Cmda Nagar G.S.T. Road (Ward -3): Rs 2,200 per sq.ft (2024)
• Cheran Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Cs Nh1 (Ward -5): Rs 1,320 per sq.ft (2024)
• Chelliyamman Kovil Street(Kr): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Chozhan Street (Ward -5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chozhan Street (Ward -5)?

The Sub Registrar Office that covers Chozhan Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Panangottur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these charges are based on a standardized valuation of the property.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of the transaction. The registration office will use the guideline value to calculate the necessary fees, which must be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Chozhan Street (Ward -5)?

The current guideline value of Chozhan Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Chozhan Street (Ward -5)?

Chozhan Street (Ward -5) is classified as Residential Special Type - V under the Chengleput Joint II SRO.

What are the stamp duty rates for property in Chozhan Street (Ward -5)?

The stamp duty for property in Chozhan Street (Ward -5) is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Chozhan Street (Ward -5)?

The Sub Registrar Office for Chozhan Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.