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, effective from 1 July 2024. This street is located in Mylapore Part 2 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

According to the register, there are no figures for Chockalingam Main Road for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 13,000 per sq.ft, which increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

This marks a significant change from the previous year, reflecting an increase in the guideline value. The 2024 figure is the only one recorded for this street in the recent revisions.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Chockalingam Main Road is 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 rate of Rs 14,300 per sq.ft, the 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, totaling Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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 2

The guideline value is a crucial factor in property transactions in Mylapore Part 2. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in the real estate market. Buyers should be aware of the guideline value to understand their financial obligations during the purchase process.

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 increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a 10% rise. There are no figures available for 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 within the area.

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

The Sub Registrar Office for Chockalingam Main Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Mylapore Part 2?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,43,00,000, the stamp duty at 7% would be Rs 10,01,000.