Guideline Value for Chozahan Street (JPT)

Chozahan Street (JPT) guideline value

The current guideline value of Chozahan Street (JPT) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, classified as Residential Class III Type - II.

How the guideline value of Chozahan Street (JPT) has changed

The guideline value for Chozahan Street (JPT) has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,210 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 272%. However, it then dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The value continued to rise, reaching Rs 4,500 per sq.ft in 2023, and then further increased to Rs 4,900 per sq.ft in 2024, reflecting a 9% growth.

There are no recorded figures for Chozahan Street (JPT) for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which aligns with the current value of Chozahan Street (JPT).

• Choolai Pallam: Rs 2,700 per sq.ft (2024)
• Church of South India Block 26: Rs 4,900 per sq.ft (2024)
• Church Street (Ottakapalayam): Rs 4,400 per sq.ft (2024)
• C.I.T. Road Block 35: Rs 4,900 per sq.ft (2024)
• C.I.T. Salai: Rs 4,900 per sq.ft (2024)
• C.K. Nagar: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chozahan Street (JPT)

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. The duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chozahan Street (JPT)?

The Sub Registrar Office that covers Chozahan Street (JPT) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an essential reference for property transactions in Kodambakkam. It serves as the basis for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chozahan Street (JPT)?

The current guideline value of Chozahan Street (JPT) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Chozahan Street (JPT) has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 305%.

What are the stamp duty rates for properties in Chozahan Street (JPT)?

The stamp duty for properties in Chozahan Street (JPT) is charged at 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office handles the registration for Chozahan Street (JPT)?

The Ashok Nagar Sub Registrar Office handles the registration for Chozahan Street (JPT), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Chozahan Street (JPT)?

Chozahan Street (JPT) is classified as Residential Class III Type - II.