Guideline Value for Chowdri Nagar 3rd Street

Chowdri Nagar 3rd Street guideline value

The current guideline value of Chowdri Nagar 3rd 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 3rd Street has changed

Over the years, the guideline value of Chowdri Nagar 3rd Street has seen significant changes. In 2007, the guideline value was Rs 650 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 515%. This figure remained unchanged through the 2023 revision. As of 2024, the guideline value has risen to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 577%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Chowdri Nagar 3rd Street's 2024 figure above this median.

• Chowdri Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 19th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 6th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chowdri Nagar 3rd 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, resulting in a total of 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 detailed calculations.

Which Sub Registrar Office covers Chowdri Nagar 3rd Street?

The Chowdri Nagar 3rd Street falls under 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 when buying or selling property in Valasaravakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

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 applicable duties and fees. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Chowdri Nagar 3rd Street?

The current guideline value of Chowdri Nagar 3rd 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 an overall increase of 577% over this period.

What is the registration office for Chowdri Nagar 3rd Street?

The registration office for Chowdri Nagar 3rd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Chowdri Nagar 3rd Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find more information about guideline values in Valasaravakkam?

More information about guideline values in Valasaravakkam can be found in the registration department's guideline value register (TNReginet).