Guideline Value for Choudry Road

Choudry Road guideline value

The current guideline value of Choudry Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO, with a land classification of Residential Special Type - II.

How the guideline value of Choudry Road has changed

Over the years, the guideline value of Choudry Road has seen several revisions. The earliest recorded value was Rs 3,000 per sq.ft in 2007. This figure increased significantly to Rs 8,000 per sq.ft in 2012, marking a 167% rise. However, it then decreased to Rs 5,360 per sq.ft in 2017, which represented a decline of 33%. The value further increased to Rs 8,000 per sq.ft in 2023, and the most recent revision set the value at Rs 8,800 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, the guideline value has increased by 193%. It is important to note that the register has no figures for Choudry Road for the years 2002 and 2003.

Guideline values in Nungambakkam

Nungambakkam village has a total of 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which is equal to the current value of Choudry Road.

• Chokatan Street: Rs 8,800 per sq.ft (2024)
• Chokalingam Street: Rs 8,800 per sq.ft (2024)
• Cochin House (Polic Quarters): Rs 7,700 per sq.ft (2024)
• College Lane: Rs 8,800 per sq.ft (2024)
• College Road (Part II) (Haddows Road to Greems Road Junction): Rs 13,200 per sq.ft (2024)
• College Road (Part I) (Valluvarkottam High Road to Haddows Road): Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Choudry Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total costs to Rs 7,92,000. 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 precise calculations.

Which Sub Registrar Office covers Choudry Road?

Choudry Road is covered by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nungambakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The guideline value is set by the government and reflects the minimum value for which properties can be registered in that area.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government collects the appropriate taxes on property transactions, contributing to local infrastructure and services.

Frequently asked questions

What is the current guideline value of Choudry Road?

The current guideline value of Choudry Road is Rs 8,800 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 3,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, with various increases and one decrease in between.

What is the land classification for Choudry Road?

Choudry Road is classified as Residential Special Type - II.

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

The Sub Registrar Office covering Choudry Road is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property with a guideline value of Rs 88,00,000, the stamp duty would be Rs 6,16,000 at 7%.