Guideline Value for CHOOLAIMEDU LANE

Choolaimedu Lane guideline value

The current guideline value of Choolaimedu Lane is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Special Type - III.

How the guideline value of Choolaimedu Lane has changed

The guideline value for Choolaimedu Lane has undergone several revisions over the years. In 2003, the value was Rs 922 per sq.ft, which increased significantly to Rs 1,650 per sq.ft in 2007, marking a rise of 79%. Following this, the value surged to Rs 5,800 per sq.ft in 2012, reflecting a remarkable increase of 252%. However, from 2012 to 2017, the value decreased to Rs 3,886 per sq.ft, a drop of 33%. The most recent revision in 2024 set the value at Rs 6,300 per sq.ft, representing a 62% increase from the 2017 figure.

It is important to note that there are no figures available for the revisions in 2023 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 583%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. Choolaimedu Lane's 2024 guideline value is above this median.

• Choolaimedu High Road: Rs 8,800 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 Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value amounts to Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, totaling Rs 5,67,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Choolaimedu Lane?

The Sub Registrar Office that covers Choolaimedu Lane is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When registering a property, the guideline value is taken into account to ensure that the appropriate fees are collected based on the value of the property being transacted. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Choolaimedu Lane?

The current guideline value of Choolaimedu Lane is Rs 6,300 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 922 per sq.ft in 2003 to Rs 6,300 per sq.ft in 2024, marking an overall increase of 583% over this period.

What are the stamp duty and registration fees for properties in Choolaimedu Lane?

For a property valued at Rs 63,00,000, the stamp duty would be Rs 4,41,000 and the registration fee would be Rs 1,26,000, totaling Rs 5,67,000.

Which Sub Registrar Office handles registrations for Choolaimedu Lane?

The Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, handles registrations for Choolaimedu Lane.

Are there other streets in Puliyur with different guideline values?

Yes, there are several other streets in Puliyur with varying guideline values, ranging from Rs 3,300 to Rs 14,300 per sq.ft, with Choolaimedu Lane's value being above the median of Rs 5,800 per sq.ft.