Guideline Value for CHOZHAN STREET

Chozhan Street guideline value

The current guideline value of Chozhan Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Chozhan Street has changed

The guideline value for Chozhan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent revision in 2024 has further raised it to Rs 2,200 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Chozhan Street.

• Cheran Street: Rs 2,200 per sq.ft (2024)
• Casagrand Tranquil: Rs 4,300 per sq.ft (2024)
• Dhanalakshmi Avenue: Rs 1,320 per sq.ft (2024)
• Bharathiyar Street: Rs 2,200 per sq.ft (2024)
• Bharathiyar Salai: Rs 2,200 per sq.ft (2024)
• Dr. Radhakrishnan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Chozhan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chozhan Street?

The Sub Registrar Office that covers Chozhan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Jelandianpettai. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Chozhan Street?

The current guideline value of Chozhan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, increased to Rs 2,000 per sq.ft in 2023, and is now Rs 2,200 per sq.ft in 2024.

What is the land classification for Chozhan Street?

Chozhan Street is classified as Residential Class II Type - I under the Chennai South Joint I SRO.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Chozhan Street located?

The Sub Registrar Office for Chozhan Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.