Guideline Value for Chozhan Nagar

Chozhan Nagar guideline value

The current guideline value of Chozhan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village, under the Pammal SRO, and is classified as Residential Class II Type - I.

How the guideline value of Chozhan Nagar has changed

The guideline value for Chozhan Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,850 per sq.ft. The guideline value of Chozhan Nagar aligns with the median value of Rs 2,200 per sq.ft for this area.

• Devi Karumariamman Nagar: Rs 2,200 per sq.ft (2024)
• B.T. Nagar (ward 5): Rs 2,750 per sq.ft (2024)
• B.T. Nagar (ward 4): Rs 2,750 per sq.ft (2024)
• Dharmaraja koil Street (ward 4): Rs 2,200 per sq.ft (2024)
• Bharathiyar Street (ward 3): Rs 2,750 per sq.ft (2024)
• Bharathi Nagar: Rs 2,750 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chozhan Nagar?

Chozhan Nagar falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Kolapakkam

The guideline value is a critical factor when registering property in Kolapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to assess the minimum value for which the property can be registered. This ensures that the transaction reflects a fair valuation according to government standards, protecting both the buyer and the seller.

Frequently asked questions

What is the current guideline value of Chozhan Nagar?

The current guideline value of Chozhan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification of Chozhan Nagar?

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

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

The Sub Registrar Office covering Chozhan Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty rates applicable in Chozhan Nagar?

The stamp duty rate in Chozhan Nagar is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.