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 Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this area is 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 dropped to Rs 804 per sq.ft. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. The register does not have figures for Chozhan Street for the years 2002, 2003, and 2007.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Chozhan Street's guideline value is above this median.

• Chitra Nagar (Sa): Rs 660 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.

For more information, you can use 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Sattamangalam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it can influence the overall cost of the transaction. Buyers and sellers should consider this value to avoid any discrepancies during the registration process.

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 increased 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 for Chozhan Street (Ward -5)?

The land classification for Chozhan Street (Ward -5) is Residential Special Type - V.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for property in Chozhan Street (Ward -5)?

The stamp duty for property in Chozhan Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft, the stamp duty amounts to Rs 92,400 based on the current guideline value.