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Guideline Value

Corporate

Guideline Value for Chozhan Nagar Main Road 5th Street

₹2750/sq.ft.

The guideline value for Chozhan Nagar Main Road 5th Street in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹600 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹479 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹437 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Chozhan Nagar Main Road 5th Street

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Chozhan Nagar Main Road 5th Street guideline value

The current guideline value of Chozhan Nagar Main Road 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Chozhan Nagar Main Road 5th Street has changed

The guideline value for Chozhan Nagar Main Road 5th Street has seen several revisions over the years. The earliest recorded value in the register is from 2002, which was Rs 437 per sq.ft. This increased to Rs 479 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 600 per sq.ft in 2007, reflecting a 25% increase. In 2012, the value was Rs 2,500 per sq.ft, which represented a significant increase of 317% from the previous revision. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%.

From 2017, the value rose to Rs 2,500 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year. The register has no figure for this street for the years not mentioned above.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, placing Chozhan Nagar Main Road 5th Street below this median.

Stamp duty and registration fee for property in Chozhan Nagar Main Road 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the guideline value totals Rs 27,50,000. The stamp duty at 7% amounts to Rs 1,92,500, and the registration fee at 2% is Rs 55,000, bringing the total to Rs 2,47,500. Please note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chozhan Nagar Main Road 5th Street?

The Sub Registrar Office that covers Chozhan Nagar Main Road 5th Street is 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 Maduravoyal

The guideline value is a crucial factor during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty, ensuring that the government receives the necessary revenue from the transaction.

Frequently asked questions

What is the current guideline value of Chozhan Nagar Main Road 5th Street?

The current guideline value of Chozhan Nagar Main Road 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 437 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 529% over the years.

What is the median guideline value in Maduravoyal?

The median guideline value for streets in Maduravoyal is Rs 3,050 per sq.ft, which is higher than the current value of Chozhan Nagar Main Road 5th Street.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft plot valued at Rs 2,750 per sq.ft, the total guideline value is Rs 27,50,000. The stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Chozhan Nagar Main Road 5th Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Chozhan Nagar Main Road 5th Street.