Guideline Value for CHOLAN NAGAR 2nd STREET

CHOLAN NAGAR 2nd STREET guideline value

The current guideline value of CHOLAN NAGAR 2nd 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 CHOLAN NAGAR 2nd STREET has changed

The guideline value for CHOLAN NAGAR 2nd STREET has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 232 per sq.ft. This figure increased significantly to Rs 750 per sq.ft in 2007, followed by a rise to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The subsequent revision in 2023 saw a notable increase to Rs 2,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 848%. Notably, 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 figure, 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 is equal to the 2024 figure for CHOLAN NAGAR 2nd STREET.

• CHOLAN NAGAR 1st STREET: Rs 2,200 per sq.ft (2024)
• CHOLAN NAGAR 3rd STREET: Rs 2,200 per sq.ft (2024)
• CHOLAN NAGAR 4th STREET: Rs 2,200 per sq.ft (2024)
• Cholan Nagar: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar III: Rs 2,200 per sq.ft (2024)
• Cholamandal Nagar II: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in CHOLAN NAGAR 2nd STREET

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers CHOLAN NAGAR 2nd STREET?

CHOLAN NAGAR 2nd 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 details.

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

The guideline value is a crucial factor when buying or selling property in Enjambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

At the time of registration, the guideline value will be used to calculate applicable fees such as stamp duty and registration charges. This ensures that all parties are aware of the financial obligations associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of CHOLAN NAGAR 2nd STREET?

The current guideline value of CHOLAN NAGAR 2nd STREET 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 from Rs 232 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, an increase of 848% over this period.

What are the stamp duty and registration fees for property in CHOLAN NAGAR 2nd STREET?

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 amount to Rs 1,98,000.

Which Sub Registrar Office covers CHOLAN NAGAR 2nd STREET?

CHOLAN NAGAR 2nd 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.

What is the land classification of CHOLAN NAGAR 2nd STREET?

The land classification for CHOLAN NAGAR 2nd STREET is Residential Class III Type - I.