Guideline Value for Chozhan Street Main

Chozhan Street Main guideline value

The current guideline value of Chozhan Street Main in Ullagaram village, under the Alandur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Chozhan Street Main has changed

The guideline value of Chozhan Street Main has seen several revisions over the years. In 2003, the value was Rs 193 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2007, marking a 418% rise. The value then doubled to Rs 2,000 per sq.ft in 2012, followed by a decrease to Rs 1,340 per sq.ft in 2017, a drop of 33%. The most recent revisions saw the value rise to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that the register has no figure for Chozhan Street Main in 2002. Overall, from 2003 to 2024, the guideline value has increased by 1040%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Chozhan Street Main's 2024 figure below this median.

• Chozhan Cross Street: Rs 2,200 per sq.ft (2024)
• Chittrasu Street Main: Rs 2,800 per sq.ft (2024)
• Chittrasu Cross Street: Rs 2,200 per sq.ft (2024)
• Bhavani Colony / Venkatesa Nagar: Rs 2,800 per sq.ft (2024)
• Bharathiyar Street: Rs 2,800 per sq.ft (2024)
• Bharathi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Chozhan Street Main

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 Street Main?

Chozhan Street Main is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ullagaram. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value to avoid any discrepancies during the registration process. It is essential to ensure that the sale price is not lower than the guideline value to comply with legal requirements.

Frequently asked questions

What is the current guideline value of Chozhan Street Main?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 193 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1040% over the years.

What is the stamp duty for property in Chozhan Street Main?

The stamp duty for property in Chozhan Street Main is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value of streets in Ullagaram?

The median guideline value of streets in Ullagaram is Rs 2,800 per sq.ft, while Chozhan Street Main's 2024 figure is below this median.