Guideline Value for Chozhan Nagar

Chozhan Nagar guideline value

The current guideline value of Chozhan Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Agaram Male village under the Poonamallee SRO, with a land classification of Residential Special Type - I.

How the guideline value of Chozhan Nagar has changed

The guideline value for Chozhan Nagar has undergone several revisions over the years. In 2012, the value was Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and most recently to Rs 770 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Agaram Male

Agaram Male village has a range of guideline values across its 21 streets under the Poonamallee SRO, with values ranging from Rs 550 to Rs 2,800 per sq.ft. The median guideline value is Rs 770 per sq.ft, which is the same as the current figure for Chozhan Nagar.

• Five Star Nagar: Rs 550 per sq.ft (2024)
• Aathavan Avenue: Rs 1,650 per sq.ft (2024)
• Lakshmi Nagar: Rs 770 per sq.ft (2024)
• M.G.A Avenue: Rs 770 per sq.ft (2024)
• M.G.M Nagar: Rs 770 per sq.ft (2024)
• Murugesan Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Chozhan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chozhan Nagar?

The Sub Registrar Office covering Chozhan Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Agaram Male. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transactions. Buyers and sellers must ensure that the guideline value is considered to avoid any discrepancies during the registration process.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is in line with government regulations and helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Chozhan Nagar?

The current guideline value of Chozhan Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Chozhan Nagar?

The land classification of Chozhan Nagar is Residential Special Type - I.

Where can I find the Sub Registrar Office for Chozhan Nagar?

The Sub Registrar Office for Chozhan Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

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

Stamp duty for properties in Chozhan Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.