Guideline Value for CHOLAMANDAL NAGAR 9TH STREET

Cholamandal Nagar 9th Street guideline value

The current guideline value of Cholamandal Nagar 9th 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 9th Street has changed

The guideline value for Cholamandal Nagar 9th Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is 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 is Rs 2,200 per sq.ft, which is equal to the 2024 figure for Cholamandal Nagar 9th Street.

• Cholamandal Nagar I: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar II: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar III: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar 7th 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 Nagar 9th Street

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, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Cholamandal Nagar 9th Street?

The Cholamandal Nagar 9th 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Enjambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction. This ensures that all parties involved are aware of the costs associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Cholamandal Nagar 9th Street?

The current guideline value of Cholamandal Nagar 9th 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 increased 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 9th Street?

The land classification for Cholamandal Nagar 9th Street is Residential Class III Type - I.

Where can I find the Neelankarai Sub Registrar Office?

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

How is stamp duty calculated for properties in Cholamandal Nagar 9th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.