Guideline Value for Chockalingam 2nd Street

Chockalingam 2nd Street guideline value

The current guideline value of Chockalingam 2nd Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Chockalingam 2nd Street has changed

The guideline value for Chockalingam 2nd Street has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

Prior to the 2023 revision, there were no figures available for the specified years. The current guideline value reflects the latest update and is aligned with the ongoing revisions in the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Chockalingam 2nd Street's 2024 figure below the median.

• Chockalingam 1st Street: Rs 8,700 per sq.ft (2024)
• Chockalingam Colony 1st Cross Street: Rs 8,700 per sq.ft (2024)
• Chockalingam Colony 2nd Cross Street: Rs 8,700 per sq.ft (2024)
• Chockalingam Main Road: Rs 14,300 per sq.ft (2024)
• Chockalingam Nagar: Rs 14,300 per sq.ft (2024)
• Chittaranjan Salai: Rs 15,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chockalingam 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. Please note that the 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 information.

Which Sub Registrar Office covers Chockalingam 2nd Street?

The Sub Registrar Office that covers Chockalingam 2nd Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor when registering property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value ensures that the transaction is documented at a fair value, which is important for legal and taxation purposes. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Chockalingam 2nd Street?

The current guideline value of Chockalingam 2nd Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a change of +9%.

What is the median guideline value in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft, which is higher than the current value for Chockalingam 2nd Street.

What are the stamp duty and registration fees for property in Chockalingam 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 87,00,000. The stamp duty at 7% is Rs 6,09,000, and the registration fee at 2% is Rs 1,74,000, totaling Rs 7,83,000.

Which office handles registrations for Chockalingam 2nd Street?

The Chennai Central Joint I Sub Registrar Office handles registrations for Chockalingam 2nd Street, located at No.182 Bharati Salai, Royapettah, Chennai-600014.