Guideline Value for Chozhan Nagar 2nd Street

Chozhan Nagar 2nd Street guideline value

The current guideline value of Chozhan Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

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

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for Chozhan Nagar 2nd Street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Chozhan Nagar 2nd Street is below this median.

• Chozhan Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Chozhan Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Chozhan Nagar: Rs 1,300 per sq.ft (2024)
• Chinnammal Street: Rs 1,700 per sq.ft (2024)
• Crystal Spring Nagar: Rs 2,400 per sq.ft (2024)
• Dac Vilva: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chozhan Nagar 2nd Street?

The Sub Registrar Office that covers Chozhan Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is used as a reference point for property transactions in Madambakkam. It helps determine the stamp duty and registration fees that must be paid during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the Registration Department. This is crucial for legal and financial clarity in property dealings.

Frequently asked questions

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

The current guideline value of Chozhan Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by 8%, from Rs 1,200 per sq.ft to Rs 1,300 per sq.ft.

What is the land classification for Chozhan Nagar 2nd Street?

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

Where is the Sub Registrar Office for Chozhan Nagar 2nd Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Chozhan Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 at a rate of 7%.