Guideline Value for Chemozhi Nagar

Chemozhi Nagar guideline value

The current guideline value of Chemozhi Nagar is Rs 1,200 per sq.ft, as per the 2023 revision. This area falls under Mambakkam village and is governed by the Gooduvancheri SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Chemozhi Nagar has changed

Looking back at the revisions, the guideline value for Chemozhi Nagar was Rs 1,200 per sq.ft in the 2012 revision. However, it decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. The most recent revision in 2023 saw a significant increase to Rs 1,200 per sq.ft, representing a rise of 49% from the 2017 figure.

Overall, when comparing the 2012 and 2023 revisions, the guideline value remains unchanged at Rs 1,200 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Mambakkam

Currently, there are no additional village figures provided for Mambakkam. Chemozhi Nagar stands at a guideline value of Rs 1,200 per sq.ft. There are no other streets in Mambakkam listed under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Chemozhi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is essential 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 Chemozhi Nagar?

The Sub Registrar Office that covers Chemozhi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering a property in Mambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the registration office uses the guideline value to assess the applicable taxes. This ensures that the transaction is recorded accurately and that the correct fees are collected based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Chemozhi Nagar?

The current guideline value of Chemozhi Nagar is Rs 1,200 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, a decrease of 33%. It then increased back to Rs 1,200 per sq.ft in 2023, resulting in a 49% rise from the 2017 figure.

What is the land classification for Chemozhi Nagar?

The land classification for Chemozhi Nagar is Commercial Class I Type - II, indicating its suitability for commercial activities.

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

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Chemozhi Nagar located?

The Sub Registrar Office for Chemozhi Nagar is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.