Guideline Value for CHOLAMANDAL NAGAR 6TH STREET

Cholamandal Nagar 6th Street guideline value

The current guideline value of Cholamandal Nagar 6th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Cholamandal Nagar 6th Street has changed

The guideline value for Cholamandal Nagar 6th Street has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The value rose by 49% from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current guideline value for Cholamandal Nagar 6th Street.

• Cholamandal Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar 9th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Cholamandal Nagar 6th Street

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

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Cholamandal Nagar 6th Street?

The Sub Registrar Office that covers Cholamandal Nagar 6th Street 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 a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Enjambakkam, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are appropriately assessed based on the property’s value.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Ensuring that the guideline value is correctly applied helps to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Cholamandal Nagar 6th Street?

The current guideline value of Cholamandal Nagar 6th 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 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Cholamandal Nagar 6th Street?

The land classification for Cholamandal Nagar 6th Street is Residential Class III Type - I.

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

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.

Which office handles registrations for Cholamandal Nagar 6th Street?

The Neelankarai Sub Registrar Office handles registrations for Cholamandal Nagar 6th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.