Guideline Value for CHOLAMANDAL NAGAR III

Cholamandal Nagar III guideline value

The current guideline value of Cholamandal Nagar III 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 Nagar III has changed

Over the years, the guideline value of Cholamandal Nagar III has seen significant changes. The earliest recorded revision is from 2003, where the value was Rs 117 per sq.ft. This increased to Rs 1,248 per sq.ft in 2007, marking a substantial rise of 967%. In 2012, the value adjusted to Rs 2,000 per sq.ft, reflecting a decrease of 33%. The next revision in 2017 saw the value rise again to Rs 1,340 per sq.ft, and by 2023, it reached Rs 2,000 per sq.ft. Finally, the current revision in 2024 sets the guideline value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

From 2017 to 2023, the value rose by 49%, and the overall change from 2003 to 2024 is a remarkable increase of 1780%. It is important to note that there is no figure available for the year 2002 in the register for this street.

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 value is Rs 2,200 per sq.ft, which is equal to the guideline value of Cholamandal Nagar III.

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

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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Cholamandal Nagar III?

The Sub Registrar Office that covers Cholamandal Nagar III 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 plays a crucial role when buying or selling property in Enjambakkam. It is the basis for calculating the stamp duty and registration fees during the transaction process. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during registration.

When a property is sold, the guideline value is used to determine the minimum value on which the stamp duty and registration fees are calculated. This ensures that the transaction is recorded accurately and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Cholamandal Nagar III?

The current guideline value of Cholamandal Nagar III 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 increased from Rs 117 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 1780% over the years.

What is the land classification for Cholamandal Nagar III?

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

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.

How is stamp duty calculated for properties in Cholamandal Nagar III?

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