Guideline Value for Chozha Nagar

Chozha Nagar guideline value

The current guideline value of Chozha Nagar, located in Kayirambedu village under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Chozha Nagar has changed

Over the years, the guideline value for Chozha Nagar has seen several revisions. The earliest recorded revision in 2007 set the value at Rs 175 per sq.ft. This figure rose significantly to Rs 700 per sq.ft in 2012, marking a 300% increase. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, reflecting a decline of 33%. The next revision in 2023 maintained the value at Rs 700 per sq.ft, with no change from the previous year. The 2024 revision again set the value at Rs 700 per sq.ft, resulting in a 0% change from 2023.

In summary, the guideline value has increased from Rs 175 per sq.ft in 2007 to Rs 700 per sq.ft in 2024, representing an overall increase of 300% over this period. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 400 to Rs 3,550 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which aligns with the current guideline value of Chozha Nagar.

• Crystal Paradise Phase - II: Rs 2,389 per sq.ft (2024)
• Bridhavan Avenue: Rs 700 per sq.ft (2024)
• Blue Bell Avenue: Rs 1,500 per sq.ft (2024)
• Bhavanipuram: Rs 700 per sq.ft (2024)
• Eden Garden: Rs 700 per sq.ft (2024)
• Ganapathy Avenue: Rs 2,389 per sq.ft (2024)

Stamp duty and registration fee for property in Chozha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost for these fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chozha Nagar?

The Sub Registrar Office that covers Chozha Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process of property transactions in Kayirambedu. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, both parties must consider the guideline value as it affects the overall financial obligations involved in the transaction. This value helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Chozha Nagar?

The current guideline value of Chozha Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 700 per sq.ft in 2024, with various revisions occurring in between, including a significant increase in 2012 and a plateau in the recent years.

What is the land classification of Chozha Nagar?

Chozha Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, within the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Chozha Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a plot valued at Rs 7,00,000 would incur a stamp duty of Rs 49,000.