Guideline Value for Chockalingam Main Road

Chockalingam Main Road guideline value

The current guideline value of Chockalingam Main Road is Rs 14,300 per sq.ft. This road is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Chockalingam Main Road has changed

The guideline value for Chockalingam Main Road has changed over the years, with the most recent revision in 2024 setting the value at Rs 14,300 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 13,000 per sq.ft. There are no figures available for the revisions in the years 2002, 2003, 2007, 2012, and 2017.

Prior to the 2023 revision, the guideline value for this street was not recorded. This consistent lack of data indicates that the street has undergone significant changes leading to the current valuation.

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 value among these streets is Rs 8,800 per sq.ft, placing Chockalingam Main Road's 2024 figure above this median.

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

Stamp duty and registration fee for property in Chockalingam Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total fees to Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Chockalingam Main Road?

The Sub Registrar Office that covers Chockalingam Main Road 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 information.

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

The guideline value plays a crucial role in property transactions in Mylapore Part 1. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value is referenced to ensure that the transaction is recorded accurately. This helps maintain transparency and consistency in property valuations within the area.

Frequently asked questions

What is the current guideline value of Chockalingam Main Road?

The current guideline value of Chockalingam Main Road is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, marking a 10% increase. There are no figures available for the revisions in the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Chockalingam Main Road?

The land classification for Chockalingam Main Road is Residential Special Type - IV, indicating its designated use for residential purposes.

What are the stamp duty rates for properties on Chockalingam Main Road?

The stamp duty for properties on Chockalingam Main Road is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Chockalingam Main Road?

The Sub Registrar Office for Chockalingam Main Road is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more details online.