Guideline Value for Chowdri Nagar 2nd Street

Chowdri Nagar 2nd Street guideline value

The current guideline value of Chowdri Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Chowdri Nagar 2nd Street has changed

The guideline value for Chowdri Nagar 2nd Street has seen significant changes over the years. In 2007, the value was Rs 650 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a 515% rise. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, which brought it to Rs 4,400 per sq.ft, reflecting a 10% increase.

From 2007 to the latest revision in 2024, the overall increase in the guideline value is 577%. There are no figures available for the revisions in 2002, 2003, and 2017 for this street.

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 is Rs 3,850 per sq.ft, placing Chowdri Nagar 2nd Street's 2024 value above this median.

• Chowdri Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 19th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 18th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chowdri Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that 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 details.

Which Sub Registrar Office covers Chowdri Nagar 2nd Street?

The Sub Registrar Office that covers Chowdri Nagar 2nd 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 a crucial factor during the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the officially recognized value of the property.

When a property is sold, the higher of the sale price or the guideline value is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the registration department.

Frequently asked questions

What is the current guideline value of Chowdri Nagar 2nd Street?

The current guideline value of Chowdri Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 650 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking a total increase of 577% over this period.

What are the stamp duty and registration fees for property in Chowdri Nagar 2nd Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,96,000, based on the guideline value of Rs 44,00,000.

Which Sub Registrar Office covers Chowdri Nagar 2nd Street?

The Virugambakkam Sub Registrar Office covers Chowdri Nagar 2nd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Chowdri Nagar 2nd Street?

Chowdri Nagar 2nd Street is classified as Residential Class I Type - II.