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Guideline Value

Corporate

Guideline Value for Chokalingam Nagar 2nd Main Road

₹4400/sq.ft.

The guideline value for Chokalingam Nagar 2nd 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 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 2nd Main Road

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Chokalingam Nagar 2nd Main Road guideline value

The current guideline value for Chokalingam Nagar 2nd Main Road 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 2nd Main Road has changed

The guideline value for Chokalingam Nagar 2nd Main Road has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show a value of Rs 4,000 per sq.ft in 2023, which increased by 10% to Rs 4,400 per sq.ft in 2024.

Prior to the 2023 revision, the last recorded value was Rs 4,000 per sq.ft. This reflects a consistent increase in the guideline value, culminating in the current rate which aligns with the median value for residential properties in Velachery as of 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with 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 the same as the current guideline value for Chokalingam Nagar 2nd Main Road.

Stamp duty and registration fee for property in Chokalingam Nagar 2nd 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 to Rs 3,96,000. 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 Chokalingam Nagar 2nd Main Road?

The Sub Registrar Office that covers Chokalingam Nagar 2nd 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 plays a crucial role in property transactions in Velachery. It is used to determine the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

When registering a property, the guideline value ensures that the government receives the appropriate taxes based on the property's value. This system helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Chokalingam Nagar 2nd Main Road?

The current guideline value of Chokalingam Nagar 2nd 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 changed from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the registration office for Chokalingam Nagar 2nd Main Road?

The registration office for Chokalingam Nagar 2nd Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Chokalingam Nagar 2nd Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.

What is the land classification for Chokalingam Nagar 2nd Main Road?

Chokalingam Nagar 2nd Main Road is classified as Residential Class II Type - II under the guideline value register.