Guideline Value for CHOLAN NAGAR

Cholan Nagar guideline value

The current guideline value of Cholan Nagar, located in Thandurai village under the Avadi SRO, is Rs 988 per sq.ft. This value is effective from 1 July 2024 and falls under Residential Class II Type - I land classification.

How the guideline value of Cholan Nagar has changed

Starting with the 2012 revision, the guideline value was Rs 900 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 603 per sq.ft, marking a decline of 33%. The following revision in 2023 saw a significant increase to Rs 900 per sq.ft, and then in 2024, it rose again to Rs 988 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The most notable change occurred between 2017 and 2023, where the value jumped by 49% from Rs 603 per sq.ft to Rs 900 per sq.ft.

Guideline values in Thandurai

In Thandurai village, there are 331 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,640 per sq.ft. The median value is Rs 988 per sq.ft, which is equal to the guideline value of Cholan Nagar.

• CHOLAN NAGAR to PATTABIRAM POLICE STATION: Rs 1,980 per sq.ft (2024)
• Cholan St: Rs 988 per sq.ft (2024)
• Chitheri Karai: Rs 800 per sq.ft (2024)
• Church St: Rs 800 per sq.ft (2024)
• Colony St: Rs 800 per sq.ft (2024)
• Cheran St: Rs 988 per sq.ft (2024)

Stamp duty and registration fee for property in Cholan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 988 per sq.ft, the total guideline value amounts to Rs 9,88,000. The stamp duty at 7% would be Rs 69,160, and the registration fee at 2% would be Rs 19,760, bringing the total fees together to Rs 88,920. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cholan Nagar?

The Sub Registrar Office that covers Cholan Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Thandurai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value, as it influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs that must be settled at the time of registration. This ensures that the transaction is legally recognized and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Cholan Nagar?

The current guideline value of Cholan Nagar is Rs 988 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 988 per sq.ft in 2024.

What is the land classification of Cholan Nagar?

Cholan Nagar falls under the Residential Class II Type - I land classification.

What are the stamp duty and registration fees for property in Cholan Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 9,88,000, the total fees would be Rs 88,920.

Which office handles registrations for Cholan Nagar?

The Avadi Sub Registrar Office handles registrations for Cholan Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.