Guideline Value for CHOOLAIMEDU HIGH ROAD

Choolaimedu High Road guideline value

The current guideline value of Choolaimedu High Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Commercial Class I Type - I.

How the guideline value of Choolaimedu High Road has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 2,501 per sq.ft, which increased to Rs 2,746 per sq.ft in 2003, marking a 10% increase. The value continued to rise, reaching Rs 3,100 per sq.ft in 2007, an increase of 13%. By 2012, the value had jumped to Rs 8,000 per sq.ft, reflecting a substantial 158% increase. However, in the 2017 revision, the value decreased to Rs 5,360 per sq.ft, a drop of 33%. The most recent revision in 2024 shows a significant increase to Rs 8,800 per sq.ft, representing a 64% rise from the 2017 figure.

There is no figure available for the year 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 252%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing Choolaimedu High Road's 2024 figure above that median.

• Choolaimedu Lane: Rs 6,300 per sq.ft (2024)
• CIRCULAR ROAD (40 Feet): Rs 8,200 per sq.ft (2024)
• Chinnaya Colony: Rs 4,600 per sq.ft (2024)
• Chinna Raju Garden 4th Street: Rs 4,400 per sq.ft (2024)
• Chinna Raju Garden 3rd Street: Rs 4,400 per sq.ft (2024)
• Chinna Raju Garden 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Choolaimedu High Road

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Choolaimedu High Road?

The Sub Registrar Office covering Choolaimedu High Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable fees and duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Choolaimedu High Road?

The current guideline value of Choolaimedu High Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,501 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, an overall increase of 252%.

What is the land classification for Choolaimedu High Road?

Choolaimedu High Road is classified as Commercial Class I Type - I under the Kodambakkam SRO.

What are the stamp duty rates for property in Choolaimedu High Road?

The stamp duty for property in Choolaimedu High Road is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Choolaimedu High Road?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.