Guideline Value for Chowdri Nagar 1st Street

Chowdri Nagar 1st Street guideline value

The current guideline value of Chowdri Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Chowdri Nagar 1st Street has changed

The guideline value for Chowdri Nagar 1st Street has seen several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in both the 2012 and 2023 revisions. There are no figures available for the revisions in 2002, 2003, and 2017.

From 2023 to 2024, the guideline value increased by 10% from Rs 4,000 per sq.ft to Rs 4,400 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 487%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, making the 2024 figure for Chowdri Nagar 1st Street above the median.

• Chowdri Nagar 19th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 18th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 17th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 4th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chowdri Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total costs to Rs 3,96,000. It's important to note that the 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 Chowdri Nagar 1st Street?

The Sub Registrar Office that covers Chowdri Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is registered accurately and in accordance with the law.

Frequently asked questions

What is the current guideline value of Chowdri Nagar 1st Street?

The current guideline value of Chowdri Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 750 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 487%.

What is the median guideline value in Valasaravakkam?

The median guideline value in Valasaravakkam is Rs 3,850 per sq.ft, with Chowdri Nagar 1st Street's 2024 figure being above this median.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Chowdri Nagar 1st Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.