Guideline Value for Chozhan Nagar 3rd Street

Chozhan Nagar 3rd Street guideline value

The current guideline value of Chozhan Nagar 3rd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Chozhan Nagar 3rd Street has changed

The guideline value for Chozhan Nagar 3rd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase from Rs 1,200 per sq.ft in the 2023 revision. Notably, there was no change from the 2012 revision to the 2023 revision, which remained at Rs 1,200 per sq.ft.

Looking further back, the guideline value has remained unchanged from the 2012 revision until 2023. The overall change from the 2012 revision to the current 2024 figure represents an increase of 8%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, making the current value for Chozhan Nagar 3rd Street below this median.

• Chozhan Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Chozhan Nagar 1st 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 3rd 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, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chozhan Nagar 3rd Street?

The Sub Registrar Office that covers Chozhan Nagar 3rd 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 a crucial factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction reflects a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for completing the registration process. This ensures transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value of Chozhan Nagar 3rd Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an 8% increase. There has been no change from the 2012 revision to 2023.

What is the land classification for Chozhan Nagar 3rd Street?

Chozhan Nagar 3rd Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

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 property in Chozhan Nagar 3rd Street?

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