Guideline Value for Chotta John Street

Chotta John Street guideline value

The current guideline value of Chotta John Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - II.

How the guideline value of Chotta John Street has changed

Over the years, the guideline value of Chotta John Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and further rose to Rs 1,100 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Chotta John Street's 2024 figure below this median.

• Cholamannan Street: Rs 1,650 per sq.ft (2024)
• Chokkanathar Street: Rs 2,750 per sq.ft (2024)
• Chitlapakkam Ist Main Road: Rs 3,300 per sq.ft (2024)
• Chitlapakkam IInd Main Road: Rs 3,850 per sq.ft (2024)
• Chitlapakkam IIIrd Main Road (Thirumurugan Salai): Rs 3,850 per sq.ft (2024)
• Chithambaranar St: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Chotta John Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Chotta John Street?

The Sub Registrar Office that covers Chotta John Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair value.

When buyers and sellers engage in property transactions, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and compliance with local regulations during the buying and selling process.

Frequently asked questions

What is the current guideline value of Chotta John Street?

The current guideline value of Chotta John Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Chotta John Street?

Chotta John Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Chotta John Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations for Chotta John Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Chotta John Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.