Guideline Value for Cholapuram 1st Street

Cholapuram 1st Street guideline value

The current guideline value of Cholapuram 1st Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class III Type - II.

How the guideline value of Cholapuram 1st Street has changed

The guideline value for Cholapuram 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 2,300 per sq.ft in 2023, and then to Rs 2,500 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 9% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value for these streets is Rs 3,600 per sq.ft, placing Cholapuram 1st Street's 2024 guideline value below that median.

• Cholapuram 2nd Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 3rd Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 4th Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 5th Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 6th Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 7th Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Cholapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Cholapuram 1st Street?

The Cholapuram 1st Street falls under 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 Ambattur

The guideline value is a crucial factor when registering property transactions in Ambattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Cholapuram 1st Street?

The current guideline value of Cholapuram 1st Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then rising to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for Cholapuram 1st Street?

Cholapuram 1st Street is classified as Residential Class III Type - II.

What are the other streets in Ambattur with the same guideline value?

Other streets in Ambattur, such as Cholapuram 2nd Street, Cholapuram 3rd Street, Cholapuram 4th Street, Cholapuram 5th Street, Cholapuram 6th Street, and Cholapuram 7th Street, all have a guideline value of Rs 2,500 per sq.ft in 2024.

Where can I find the Ambattur Sub Registrar Office?

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