Guideline Value for Chothupakkam Road

Chothupakkam Road guideline value

The current guideline value of Chothupakkam Road in Naravarikuppam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Commercial Class I Type - I.

How the guideline value of Chothupakkam Road has changed

The guideline value for Chothupakkam Road has seen significant changes over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in the 2012 revision, marking a rise of 329%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value climbed again to Rs 3,000 per sq.ft in the 2023 revision, and finally, in the 2024 revision, it stands at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 371%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. Chothupakkam Road's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Chothupakkam Salai: Rs 2,200 per sq.ft (2024)
• Chozhan Street: Rs 1,320 per sq.ft (2024)
• Church Street: Rs 1,870 per sq.ft (2024)
• C.K. Manikkam Street: Rs 1,650 per sq.ft (2024)
• C.K. Manikkanar Street Extn.: Rs 1,320 per sq.ft (2024)
• Cheran Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Chothupakkam Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please 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 further calculations.

Which Sub Registrar Office covers Chothupakkam Road?

The Sub Registrar Office that covers Chothupakkam Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Naravarikuppam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Chothupakkam Road?

The current guideline value of Chothupakkam Road is Rs 3,300 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 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% over the years.

What are the other streets in Naravarikuppam with their guideline values?

Other streets in Naravarikuppam have varying guideline values, with Chothupakkam Salai at Rs 2,200 per sq.ft, Chozhan Street at Rs 1,320 per sq.ft, and others listed in the article.

How is the stamp duty calculated for properties in Chothupakkam Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.

Where can I find the Sub Registrar Office for Chothupakkam Road?

The Sub Registrar Office for Chothupakkam Road is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.