Guideline Value for CHOLAMANDAL DEVI NAGAR

Cholamandal Devi Nagar guideline value

The current guideline value of Cholamandal Devi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Enjambakkam village and falls under the Neelankarai SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Cholamandal Devi Nagar has changed

The guideline value for Cholamandal Devi Nagar has seen significant changes over the years. In the 2003 revision, the value was Rs 117 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The 2012 revision saw a rise to Rs 2,000 per sq.ft, but this was followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in the 2023 revision, and finally, in the 2024 revision, it reached Rs 2,200 per sq.ft. The register has no figure for this street in 2002.

From 2017 to 2023, the value increased by 49%. The jump from 2007 to 2012 was a remarkable 300%, while the rise from 2003 to 2007 was 327%. Overall, from 2003 to 2024, the guideline value has increased by 1780%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value for Cholamandal Devi Nagar.

• Cholamandal Artist Village: Rs 3,900 per sq.ft (2024)
• Cholamandal Naga 4th Street: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Cholamandal Devi Nagar

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 is charged at 7%, which totals Rs 1,54,000, and the registration fee is charged at 2%, amounting to Rs 44,000. Together, these fees total Rs 1,98,000. 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 further assistance.

Which Sub Registrar Office covers Cholamandal Devi Nagar?

The Sub Registrar Office that covers Cholamandal Devi Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Enjambakkam, as it determines the amount of stamp duty and registration fees payable. Buyers should be aware that the guideline value is set by the registration department and reflects the minimum value at which properties can be registered.

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

Frequently asked questions

What is the current guideline value of Cholamandal Devi Nagar?

The current guideline value of Cholamandal Devi 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 changed significantly, increasing from Rs 117 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, which is an overall increase of 1780%.

What is the land classification for Cholamandal Devi Nagar?

The land classification for Cholamandal Devi Nagar is Residential Class III Type - I.

What are the stamp duty and registration fees for property in Cholamandal Devi Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Cholamandal Devi Nagar located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.