Guideline Value for Cholan Nagar Indra Street

Cholan Nagar Indra Street guideline value

The current guideline value for Cholan Nagar Indra Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class III Type - I.

How the guideline value of Cholan Nagar Indra Street has changed

The guideline value for Cholan Nagar Indra Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly by 59% to reach the current rate of Rs 1,600 per sq.ft.

It is important to note that there are no figures available for this street in the revisions for the years 2002, 2003, 2007, and 2023. Overall, when comparing the 2012 revision to the current 2024 revision, there has been a slight increase of 7%.

Guideline values in Thirumullaivoyal

Thirumullaivoyal features a total of 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, placing Cholan Nagar Indra Street's current value below this median.

• Cholan Nagar Darga Street: Rs 1,600 per sq.ft (2024)
• Cholan Nagar Kamaraj Street: Rs 1,600 per sq.ft (2024)
• Cholan Nagar Bharathi Street: Rs 1,600 per sq.ft (2024)
• Cholan Nagar Karikalan Street: Rs 1,600 per sq.ft (2024)
• Cholan Nagar Anna Street: Rs 1,600 per sq.ft (2024)
• Cholan Nagar Mariyamman Kovil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Cholan Nagar Indra Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total fees together to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cholan Nagar Indra Street?

The Sub Registrar Office that covers Cholan Nagar Indra Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Thirumullaivoyal. It is used to calculate the stamp duty and registration fees that must be paid, ensuring that the transaction is legally compliant.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Cholan Nagar Indra Street?

The current guideline value of Cholan Nagar Indra Street is Rs 1,600 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, and then increased to Rs 1,600 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification for Cholan Nagar Indra Street?

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

Where can I find the Sub Registrar Office for Cholan Nagar Indra Street?

The Sub Registrar Office for Cholan Nagar Indra Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Thirumullaivoyal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 16,00,000, the stamp duty would be 7% of that amount.