Guideline Value for Chothupakkam Salai

Chothupakkam Salai guideline value

The current guideline value of Chothupakkam Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village, under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Chothupakkam Salai has changed

The guideline value for Chothupakkam Salai has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft by 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The guideline value then rose sharply to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Naravarikuppam

Naravarikuppam village has 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Chothupakkam Salai's 2024 figure above that median.

• Chothupakkam Road: Rs 3,300 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 Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 accurate calculations.

Which Sub Registrar Office covers Chothupakkam Salai?

The Sub Registrar Office that covers Chothupakkam Salai 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Naravarikuppam. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Chothupakkam Salai?

The current guideline value of Chothupakkam Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which is a total increase of 267% over the years.

What are the stamp duty and registration fees for properties in Chothupakkam Salai?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office handles transactions for Chothupakkam Salai?

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

What is the land classification for Chothupakkam Salai?

The land classification for Chothupakkam Salai is Residential Special Type - I, indicating its designated use for residential purposes.