Guideline Value

Corporate

Guideline Value for Chokalingam Nagar

₹4400/sq.ft.

The guideline value for Chokalingam Nagar 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 ₹1707 /sq.ft.
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

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Chokalingam Nagar guideline value

The current guideline value of Chokalingam Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area 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 has changed

The guideline value for Chokalingam Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 1,707 per sq.ft, which increased to Rs 2,680 per sq.ft in 2017, marking a 57% rise. The 2023 revision set the value at Rs 4,000 per sq.ft, reflecting a substantial 49% increase from the previous figure.

With the latest 2024 revision, the guideline value has risen to Rs 4,400 per sq.ft, representing a 10% increase from 2023. Overall, from the 2007 revision to the current 2024 figure, there has been a total increase of 158%. The register has no figures for the years 2002, 2003, and 2012 for this street.

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 current guideline value of Chokalingam Nagar.

Stamp duty and registration fee for property in Chokalingam Nagar

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, making the total cost 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chokalingam Nagar?

The Sub Registrar Office that covers Chokalingam Nagar 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

When buying or selling property in Velachery, the guideline value plays a crucial role in determining the registration fees and stamp duty. The value is set by the government and is used as a benchmark for calculating these fees, ensuring that they are based on the official valuation of the property.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chokalingam Nagar?

The current guideline value of Chokalingam Nagar 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 significantly from Rs 1,707 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 158%.

What is the land classification of Chokalingam Nagar?

Chokalingam Nagar is classified as Residential Class II Type - II, indicating its zoning for residential purposes.

Where can I find the Sub Registrar Office for Chokalingam Nagar?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 3,96,000.