Guideline Value for Chozhan Street (Prakash Nagar)

Chozhan Street (Prakash Nagar) guideline value

The current guideline value of Chozhan Street (Prakash Nagar) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, and it is classified as Residential Special Type - I.

How the guideline value of Chozhan Street (Prakash Nagar) has changed

Over the years, the guideline value for Chozhan Street has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,474 per sq.ft. However, the value increased to Rs 2,200 per sq.ft in 2023, marking a significant rise of 49% from the previous revision. The most recent revision in 2024 has further increased the value to Rs 2,400 per sq.ft, reflecting a change of 9% from the 2023 figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Chozhan Street (Prakash Nagar) above that median value.

• Church Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Church Street (Venkatesara Nagar): Rs 1,600 per sq.ft (2024)
• C.P.Chitarasu Street: Rs 1,900 per sq.ft (2024)
• Cheran Street (Prakash Nagar): Rs 2,400 per sq.ft (2024)
• Chengalvaraiyan Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Deepa Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chozhan Street (Prakash Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chozhan Street (Prakash Nagar)?

The Sub Registrar Office that covers Chozhan Street (Prakash Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chozhan Street (Prakash Nagar)?

The current guideline value of Chozhan Street (Prakash Nagar) is Rs 2,400 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 2,200 per sq.ft in 2012 to Rs 2,400 per sq.ft in 2024, with various revisions in between. The most notable increase was from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024.

Which Sub Registrar Office covers Chozhan Street (Prakash Nagar)?

The Ambattur Sub Registrar Office covers Chozhan Street (Prakash Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the stamp duty for property in Chozhan Street (Prakash Nagar)?

The stamp duty for property in Chozhan Street (Prakash Nagar) is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,68,000 based on the current guideline value.

What is the land classification of Chozhan Street (Prakash Nagar)?

Chozhan Street (Prakash Nagar) is classified as Residential Special Type - I, indicating its suitability for residential development.