Guideline Value for CHOLAN NAGAR 3rd STREET

CHOLAN NAGAR 3rd STREET guideline value

The current guideline value of CHOLAN NAGAR 3rd 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 CHOLAN NAGAR 3rd STREET has changed

Since the establishment of the guideline value register, the earliest recorded revision for CHOLAN NAGAR 3rd STREET was in 2003, with a value of Rs 232 per sq.ft. The subsequent revisions saw significant changes: in 2007, the value increased to Rs 750 per sq.ft, marking a rise of 223%. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a 167% increase from 2007. However, in 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The 2023 revision brought it back up to Rs 2,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 848%. Notably, the register does not have a figure for the year 2002 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 guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for CHOLAN NAGAR 3rd STREET.

• CHOLAN NAGAR 2nd STREET: Rs 2,200 per sq.ft (2024)
• CHOLAN NAGAR 4th STREET: Rs 2,200 per sq.ft (2024)
• CHOLAN NAGAR 1st 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 3rd 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 charged at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers CHOLAN NAGAR 3rd STREET?

The Sub Registrar Office that covers CHOLAN NAGAR 3rd 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 plays a crucial role in the registration process when buying or selling property in Enjambakkam. It determines the minimum value at which the property must be registered, ensuring that all transactions are documented at a fair value according to the prevailing market conditions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of CHOLAN NAGAR 3rd STREET?

The current guideline value of CHOLAN NAGAR 3rd 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 seen various changes, from Rs 232 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 848% over this period.

What is the land classification for CHOLAN NAGAR 3rd STREET?

CHOLAN NAGAR 3rd STREET is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Neelankarai Sub Registrar Office covers CHOLAN NAGAR 3rd STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are 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 total fees would amount to Rs 1,98,000.