Guideline Value for CHOLA AKSHAYAM PALAZZO

Chola Akshayam Palazzo guideline value

The current guideline value of Chola Akshayam Palazzo is Rs 4,100 per sq.ft, effective from 1 July 2024. It is located in Arasankalani village under the Selaiyur SRO, classified as Mixed Type - II land.

How the guideline value of Chola Akshayam Palazzo has changed

The guideline value for Chola Akshayam Palazzo has seen several revisions over the years. The 2017 revision set the value at Rs 2,500 per sq.ft, which increased to Rs 3,735 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value to Rs 4,100 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, and the overall increase from 2017 to 2024 is 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft, with a median of Rs 2,100 per sq.ft. Chola Akshayam Palazzo's 2024 figure of Rs 4,100 per sq.ft is above this median.

• Color Fortuna: Rs 2,100 per sq.ft (2024)
• Crusher Road: Rs 2,100 per sq.ft (2024)
• Crusher Road 3rd Lane: Rs 2,100 per sq.ft (2024)
• Crusher Road 3rd Malai Street: Rs 2,100 per sq.ft (2024)
• Crusher Road 4th Lane: Rs 2,100 per sq.ft (2024)
• Crusher Road 9th Malai Street: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chola Akshayam Palazzo

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, totaling Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chola Akshayam Palazzo?

The Chola Akshayam Palazzo falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Arasankalani

The guideline value plays a crucial role in the registration process when buying or selling property in Arasankalani. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chola Akshayam Palazzo?

The current guideline value of Chola Akshayam Palazzo is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,500 per sq.ft in 2017 to Rs 4,100 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the other streets in Arasankalani with their guideline values?

Other streets in Arasankalani include Color Fortuna, Crusher Road, Crusher Road 3rd Lane, Crusher Road 3rd Malai Street, Crusher Road 4th Lane, and Crusher Road 9th Malai Street, all valued at Rs 2,100 per sq.ft in 2024.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Chola Akshayam Palazzo?

The stamp duty for properties in Chola Akshayam Palazzo is calculated at 7% of the higher value between the guideline value and the sale price. The registration fee is an additional 2% of the same higher value.