Guideline Value for Chokkammal Thottam

Chokkammal Thottam guideline value

The current guideline value of Chokkammal Thottam is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Chokkammal Thottam has changed

The guideline value of Chokkammal Thottam has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,900 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

In terms of percentage changes, there was a decrease of 20% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023. The change from 2023 to 2024 reflects a 6% increase. Overall, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Chokkammal Thottam's 2024 figure below this median.

• Burma Nagar: Rs 1,900 per sq.ft (2024)
• Devikarumariamman Nagar 1st Cross Street: Rs 1,900 per sq.ft (2024)
• Devikarumariamman Nagar 2nd Cross Street: Rs 1,900 per sq.ft (2024)
• Devikarumariamman Nagar 3rd Cross Street: Rs 1,900 per sq.ft (2024)
• Devikarumariamman Nagar Main Road: Rs 1,900 per sq.ft (2024)
• Boopathy Salai: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chokkammal Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total fees Rs 1,71,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Chokkammal Thottam?

The Madhavaram Sub Registrar Office covers Chokkammal Thottam, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To locate your SRO, you can find your SRO here.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selavoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is officially recorded and that all legal obligations are met.

Frequently asked questions

What is the current guideline value of Chokkammal Thottam?

The current guideline value of Chokkammal Thottam is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Chokkammal Thottam?

Chokkammal Thottam is classified as Residential Class III Type - I.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your SRO online.