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Guideline Value

Corporate

Guideline Value for Chokalingam Nagar 1st Main Road

₹4400/sq.ft.

The guideline value for Chokalingam Nagar 1st Main Road in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Chokalingam Nagar 1st Main Road

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Chokalingam Nagar 1st Main Road guideline value

The current guideline value of Chokalingam Nagar 1st Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Chokalingam Nagar 1st Main Road has changed

The guideline value for Chokalingam Nagar 1st Main Road has seen several revisions over the years. In the 2017 revision, the value was Rs 2,680 per sq.ft, which increased to Rs 4,000 per sq.ft in the 2023 revision. The most recent revision in 2024 brought the value to Rs 4,400 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024 reflects a significant change in the guideline value over this period.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value of Chokalingam Nagar 1st Main Road.

Stamp duty and registration fee for property in Chokalingam Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. Duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chokalingam Nagar 1st Main Road?

The Sub Registrar Office that covers Chokalingam Nagar 1st Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions within Velachery. It serves as a benchmark for calculating stamp duty and registration fees when buying or selling property. The amount charged is based on the higher of the guideline value or the sale price of the property.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is crucial for both buyers and sellers. This process also aids in maintaining transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Chokalingam Nagar 1st Main Road?

The current guideline value of Chokalingam Nagar 1st Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees in Chokalingam Nagar 1st Main Road?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Chokalingam Nagar 1st Main Road?

The Velacheri Sub Registrar Office handles registrations for Chokalingam Nagar 1st Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Chokalingam Nagar 1st Main Road?

The land classification for Chokalingam Nagar 1st Main Road is Residential Class II Type - II.