Guideline Value for Cholapuram New Street

Cholapuram New Street guideline value

The current guideline value of Cholapuram New Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Cholapuram New Street has changed

The guideline value for Cholapuram New Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in the 2017 revision. However, the value rose significantly to Rs 2,200 per sq.ft in the 2023 revision, and further increased to the current rate of Rs 2,400 per sq.ft in 2024, marking a 9% rise from the previous year.

From 2017 to 2023, the guideline value increased by 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 Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value is Rs 2,400 per sq.ft, which is equal to the guideline value of Cholapuram New Street.

• Cholapuram Natesan Street: Rs 2,400 per sq.ft (2024)
• Cholapuram Saraswathi Street: Rs 2,400 per sq.ft (2024)
• Cholapuram Lakshmi Street: Rs 2,400 per sq.ft (2024)
• Cholapuram Shanthi Street: Rs 2,400 per sq.ft (2024)
• Cholapuram Ibrahim Street: Rs 2,400 per sq.ft (2024)
• Cholapuram Gangaiamman Koil St.: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Cholapuram New Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, leading to a total cost of Rs 2,16,000. 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 New Street?

The Cholapuram New 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 Thirumullaivoyal

The guideline value is a crucial factor when registering property transactions in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of properties.

When buyers and sellers engage in property transactions, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as per the official register. This process aids in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Cholapuram New Street?

The current guideline value of Cholapuram New Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 2,200 per sq.ft in 2012, decreasing to Rs 1,474 per sq.ft in 2017, and then increasing to Rs 2,200 per sq.ft in 2023, before reaching Rs 2,400 per sq.ft in 2024.

What is the land classification for Cholapuram New Street?

Cholapuram New Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Cholapuram New Street?

The stamp duty is calculated at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total cost would be Rs 2,16,000.

Which office handles registrations for Cholapuram New Street?

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