Guideline Value for Cholapuram 6th Street

Cholapuram 6th Street guideline value

The current guideline value of Cholapuram 6th 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 6th Street has changed

The guideline value for Cholapuram 6th Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,300 per sq.ft in 2023, and then to Rs 2,500 per sq.ft in 2024, marking a 9% increase from the previous year.

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

Guideline values in Ambattur

In Ambattur village, 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 for these streets is Rs 3,600 per sq.ft, indicating that Cholapuram 6th Street's 2024 figure is below this median.

• Cholapuram 5th Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 7th Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 4th Street: Rs 2,500 per sq.ft (2024)
• Cholapuram 3rd 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 6th 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 cost for these fees to Rs 2,25,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cholapuram 6th Street?

The Cholapuram 6th 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. To find your SRO, you can visit find your SRO.

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 determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value serves as a reference point for calculating the applicable fees. Buyers and sellers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can impact the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Cholapuram 6th Street?

The current guideline value of Cholapuram 6th 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 to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the median guideline value in Ambattur?

The median guideline value for the 448 streets in Ambattur is Rs 3,600 per sq.ft, which is higher than the current guideline value of Cholapuram 6th Street.

What are the stamp duty and registration fees for property in Cholapuram 6th Street?

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.

Which office handles registrations for Cholapuram 6th Street?

The Ambattur Sub Registrar Office handles registrations for Cholapuram 6th Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai.