Guideline Value for Cholapuram 5th Street

Cholapuram 5th Street guideline value

The current guideline value of Cholapuram 5th 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 it falls under Residential Class III Type - II land classification.

How the guideline value of Cholapuram 5th Street has changed

The guideline value for Cholapuram 5th Street has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,300 per sq.ft, and the latest revision in 2024 has further increased it to Rs 2,500 per sq.ft.

In summary, the changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 9%. The overall change from 2012 to 2024 shows a slight increase of 9% in the guideline value.

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 guideline value in this area is Rs 3,600 per sq.ft, placing Cholapuram 5th Street's 2024 figure below that median.

• Cholapuram 4th Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 6th Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 3rd Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 7th Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 2nd Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 1st Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Cholapuram 5th 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, making a total of Rs 2,25,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Cholapuram 5th Street?

The Cholapuram 5th Street is covered by 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 during property registration in Ambattur. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value serves as a reference point for the transaction. If the sale price is lower than the guideline value, the higher amount is used to calculate the applicable duties and fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Cholapuram 5th Street?

The current guideline value of Cholapuram 5th 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, marking a 9% increase. It was Rs 1,541 per sq.ft in 2017 and Rs 2,300 per sq.ft in 2012.

What is the land classification of Cholapuram 5th Street?

Cholapuram 5th Street falls under Residential Class III Type - II land classification.

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.

How is stamp duty calculated for properties in Cholapuram 5th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at a rate of 7%.