Guideline Value for CHOLAN NAGAR 4th STREET

CHOLAN NAGAR 4th STREET guideline value

The current guideline value of CHOLAN NAGAR 4th STREET is Rs 2,200 per sq.ft. 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 4th STREET has changed

The guideline value for CHOLAN NAGAR 4th STREET has seen several revisions over the years. In 2003, the value was Rs 232 per sq.ft, which increased to Rs 750 per sq.ft in 2007. Following this, the value rose significantly to Rs 2,000 per sq.ft in 2012, before decreasing to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,200 per sq.ft. Notably, there is no figure for this street in the 2002 revision.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The jump from 2007 to 2012 was a substantial 167%, and from 2003 to 2007, it increased by 223%. Overall, from 2003 to 2024, the guideline value has risen by 848%.

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 current guideline value of CHOLAN NAGAR 4th STREET.

• CHOLAN NAGAR 3rd STREET: Rs 2,200 per sq.ft (2024)
• CHOLAN NAGAR 2nd 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 4th STREET

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers CHOLAN NAGAR 4th STREET?

The Sub Registrar Office that covers CHOLAN NAGAR 4th 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 during property transactions in Enjambakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value must be adhered to for official documentation and registration processes.

When a property is being sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that all legal requirements are met, and the transaction is processed smoothly.

Frequently asked questions

What is the current guideline value of CHOLAN NAGAR 4th STREET?

The current guideline value of CHOLAN NAGAR 4th 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 232 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 848% over the years.

What are the stamp duty and registration fees for properties 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 Sub Registrar Office covers this street?

The Neelankarai Sub Registrar Office covers CHOLAN NAGAR 4th STREET, 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 4th STREET?

CHOLAN NAGAR 4th STREET is classified as Residential Class III Type - I, which indicates its suitability for residential development.