Guideline Value for Cholamannan Street

Cholamannan Street guideline value

The current guideline value of Cholamannan Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Cholamannan Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The value then increased significantly to Rs 1,500 per sq.ft in 2023, followed by another increase to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% rise.

Overall, the guideline value increased by 10% from 2012 to 2024. The 2017 revision does not have a figure for this street, nor do the revisions from 2002, 2003, and 2007.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the 2024 guideline value of Cholamannan Street.

• Chokkanathar Street: Rs 2,750 per sq.ft (2024)
• Chotta John Street: Rs 1,100 per sq.ft (2024)
• Chitlapakkam Ist Main Road: Rs 3,300 per sq.ft (2024)
• Chitlapakkam IInd Main Road: Rs 3,850 per sq.ft (2024)
• Chitlapakkam IIIrd Main Road ( Thirumurugan Salai ): Rs 3,850 per sq.ft (2024)
• Chithambaranar St: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Cholamannan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total charges Rs 1,48,500. It is important to note that the 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 Cholamannan Street?

The Sub Registrar Office that covers Cholamannan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the duty is charged on whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Cholamannan Street?

The current guideline value of Cholamannan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Cholamannan Street?

Cholamannan Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty rates for properties in Cholamannan Street?

The stamp duty rate for properties in Cholamannan Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Cholamannan Street?

The Sub Registrar Office for Cholamannan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.