Guideline Value for CHOLAMANDAL NAGA 4TH STREET

Cholamandal Naga 4th Street guideline value

The current guideline value of Cholamandal Naga 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Cholamandal Naga 4th Street has changed

The guideline value for Cholamandal Naga 4th Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease in 2017 to Rs 1,340 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, marking a 49% rise. The latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which matches the current value of Cholamandal Naga 4th Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value is Rs 22,00,000. The stamp duty at 7% amounts to Rs 1,54,000, and the registration fee at 2% is 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 Cholamandal Naga 4th Street?

The Cholamandal Naga 4th Street is covered by 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 a crucial factor when registering property transactions in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value will be compared with the sale price. The higher of the two values will be used to calculate the applicable duties and fees, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of Cholamandal Naga 4th Street?

The current guideline value of Cholamandal Naga 4th Street 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 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing a significant rise over the years.

What is the classification of Cholamandal Naga 4th Street?

Cholamandal Naga 4th Street is classified as Residential Class III Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for a property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would be Rs 1,98,000.

Where is the Neelankarai Sub Registrar Office located?

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