Guideline Value for Cholan Street

Cholan Street guideline value

The current guideline value of Cholan Street in Periyakuppam village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class III Type - I.

How the guideline value of Cholan Street has changed

The guideline value for Cholan Street has undergone several revisions since 2007. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017, before rising to Rs 500 per sq.ft again in 2023. The most recent revision in 2024 has set the value at Rs 550 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 175%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft, with a median value of Rs 1,100 per sq.ft. Cholan Street's 2024 figure is below this median.

• Cheran Street: Rs 550 per sq.ft (2024)
• Bypass Road (Mungil Udayar Thirumanamandapam Varai): Rs 3,300 per sq.ft (2024)
• Dharmalingam Street: Rs 1,100 per sq.ft (2024)
• Bhavani Nagar: Rs 879 per sq.ft (2024)
• Bethar Street: Rs 550 per sq.ft (2024)
• E - City: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Cholan Street

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cholan Street?

The Sub Registrar Office that covers Cholan Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Periyakuppam, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during property transactions.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for both parties to understand this value to avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of Cholan Street?

The current guideline value of Cholan Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 200 per sq.ft to Rs 550 per sq.ft in 2024, marking an overall increase of 175% over the years.

What is the median guideline value for streets in Periyakuppam?

The median guideline value for streets in Periyakuppam is Rs 1,100 per sq.ft, while Cholan Street's value is below this median.

What are the stamp duty and registration fees for Cholan Street?

For a 1,000 sq.ft plot on Cholan Street, the total stamp duty and registration fees would amount to Rs 49,500, based on the current guideline value.

Where is the Sub Registrar Office for Cholan Street located?

The Sub Registrar Office for Cholan Street is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.