Guideline Value for Chozhan Street

Chozhan Street guideline value

The current guideline value of Chozhan Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village under the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Chozhan Street has changed

The guideline value for Chozhan Street has undergone several revisions over the years. In 2002, the value was Rs 3,082 per sq.ft, which saw a significant decrease to Rs 314 per sq.ft in 2003. Following this, the value increased to Rs 400 per sq.ft in 2007, and then rose sharply to Rs 1,200 per sq.ft in 2012. However, it dropped again to Rs 804 per sq.ft in 2017. The value was Rs 1,200 per sq.ft in 2023, before reaching the current figure of Rs 1,320 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has decreased by 57%. The changes between the revisions show a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 200% increase from 2007 to 2012, a 27% increase from 2003 to 2007, and a drastic 90% decrease from 2002 to 2003. The register has no figure for the years prior to 2002 or after 2024.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, indicating that Chozhan Street's current value is below this median.

• Church Street: Rs 1,870 per sq.ft (2024)
• Chothupakkam Salai: Rs 2,200 per sq.ft (2024)
• Chothupakkam Road: Rs 3,300 per sq.ft (2024)
• C.K. Manikkam Street: Rs 1,650 per sq.ft (2024)
• C.K. Manikkanar Street Extn.: Rs 1,320 per sq.ft (2024)
• Cheran Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Chozhan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. 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?

The Sub Registrar Office that covers Chozhan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Naravarikuppam. It serves as a benchmark for determining the minimum value at which properties can be sold or bought, ensuring that the registration process is transparent and standardized.

When you buy or sell a property in Naravarikuppam, the guideline value will influence the stamp duty and registration fees applicable to the transaction. It is essential to be aware of the current guideline value to accurately calculate these costs and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Chozhan Street?

The current guideline value of Chozhan Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,082 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, showing an overall decrease of 57% over this period.

What is the registration office for Chozhan Street?

The Redhills Sub Registrar Office covers Chozhan Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty and registration fees for a property in Chozhan Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

What are the guideline values of other streets in Naravarikuppam?

Other streets in Naravarikuppam have varying guideline values, with Church Street at Rs 1,870 per sq.ft, Chothupakkam Salai at Rs 2,200 per sq.ft, and Chothupakkam Road at Rs 3,300 per sq.ft, among others.