Guideline Value

Corporate

Guideline Value for Chokalingam Nagar 1st Street

₹4400/sq.ft.

The guideline value for Chokalingam Nagar 1st Street 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 N/A
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 Street

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Chokalingam Nagar 1st Street guideline value

The current guideline value of Chokalingam Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Chokalingam Nagar 1st Street has changed

The guideline value for Chokalingam Nagar 1st 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 value was set at Rs 4,000 per sq.ft, which increased to Rs 4,400 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no figures available for this street. The most recent figure reflects the median value of Rs 4,400 per sq.ft for the 2,691 streets in Velachery under the Velacheri SRO.

Guideline values in Velachery

In Velachery, the guideline values range from Rs 3,300 to Rs 13,200 per sq.ft, with a median of Rs 4,400 per sq.ft. Chokalingam Nagar 1st Street's 2024 figure is equal to this median value.

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

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value is Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chokalingam Nagar 1st Street?

The Sub Registrar Office that covers Chokalingam Nagar 1st Street 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 a crucial reference for property transactions in Velachery. It helps determine the stamp duty and registration fees during the buying or selling process, ensuring that both parties have a clear understanding of the financial implications involved in the transaction.

When registering a property, the guideline value is used to calculate the applicable fees. This ensures that the registration process is transparent and based on the officially recognized value of the property.

Frequently asked questions

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

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

How much has the guideline value changed recently?

The guideline value increased from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, representing a change of +10%.

What is the land classification of Chokalingam Nagar 1st Street?

Chokalingam Nagar 1st Street is classified as Residential Class II Type - II.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated in Velachery?

Stamp duty in Velachery is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the fees reflect the true value of the property being registered.