Guideline Value for Cholan Nagar

Cholan Nagar guideline value

The current guideline value of Cholan Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Cholan Nagar has changed

Over the years, the guideline value of Cholan Nagar has seen several revisions. The register shows that in 2002, the value was Rs 94 per sq.ft, which increased to Rs 120 per sq.ft in 2003, marking a 28% increase. By 2007, the value rose significantly to Rs 200 per sq.ft, an increase of 67%. The value further escalated to Rs 1,500 per sq.ft in 2012, reflecting a remarkable 650% increase from the previous revision. However, it dropped to Rs 1,005 per sq.ft in 2017, showing a decrease of 33%.

In 2023, the guideline value was revised to Rs 1,500 per sq.ft, and in 2024, it increased to Rs 1,600 per sq.ft, representing a 7% increase. Overall, from 2002 to 2024, the guideline value has increased by 1602%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for the area is Rs 2,400 per sq.ft, placing Cholan Nagar's 2024 figure below this median.

• Cholan Nagan Vinayagar Street: Rs 1,600 per sq.ft (2024)
• Cholampedu Road: Rs 2,700 per sq.ft (2024)
• Cholampedu Bharathi 5th St.: Rs 2,400 per sq.ft (2024)
• Cholampedu Bharathi 4th st.: Rs 2,400 per sq.ft (2024)
• Cholampedu Bharathi 3rd St.: Rs 2,400 per sq.ft (2024)
• Cholampedu Bharathi 2nd St.: Rs 2,400 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 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, and the registration fee at 2% would be Rs 32,000, totaling 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 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 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Thirumullaivoyal. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is compliant with the regulations set by the Registration Department. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Cholan Nagar?

The current guideline value of Cholan Nagar 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 significantly, with the most recent revision in 2024 increasing it to Rs 1,600 per sq.ft from Rs 1,500 per sq.ft in 2023. Overall, from 2002 to 2024, the value has increased by 1602%.

What is the land classification for Cholan Nagar?

Cholan Nagar is classified as Residential Class III Type - I, which indicates its designation for residential purposes.

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

The Sub Registrar Office for Cholan Nagar 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 property in Cholan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,12,000.