Guideline Value for Cholapuram 3rd Street

Cholapuram 3rd Street guideline value

The current guideline value of Cholapuram 3rd 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 3rd Street has changed

Over the years, the guideline value of Cholapuram 3rd Street has seen several revisions. The 2012 revision set the value at Rs 2,300 per sq.ft, which 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 increased again to the current figure of 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%. However, the value dropped by 33% from the 2012 revision to the 2017 revision. Overall, comparing the 2012 and 2024 revisions, there has been a 9% increase in the guideline value.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value in this area is Rs 3,600 per sq.ft, which means Cholapuram 3rd Street's current figure is below that median.

• Cholapuram 2nd Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 4th Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees together to Rs 2,25,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cholapuram 3rd Street?

The Cholapuram 3rd Street falls under the jurisdiction of 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 plays a crucial role in property transactions in Ambattur. It is used to determine the stamp duty and registration fees that need to be paid during the registration of property sales. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the registration office uses the guideline value to assess the applicable fees. This ensures that the transaction is recorded accurately and legally, protecting the interests of both parties involved in the sale.

Frequently asked questions

What is the current guideline value of Cholapuram 3rd Street?

The current guideline value of Cholapuram 3rd 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 2023 to Rs 2,500 per sq.ft in 2024, a 9% increase. It was Rs 1,541 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Cholapuram 3rd Street?

Cholapuram 3rd Street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Cholapuram 3rd Street?

The Ambattur Sub Registrar Office handles registrations for Cholapuram 3rd Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.