Guideline Value for Cholapuram Saraswathi Street

Cholapuram Saraswathi Street guideline value

The current guideline value of Cholapuram Saraswathi Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Cholapuram Saraswathi Street has changed

The guideline value for Cholapuram Saraswathi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the latest 2024 revision has raised it further to Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 9%. It is important to note that 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 guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which is equal to the current value of Cholapuram Saraswathi Street.

• Cholapuram New Street: Rs 2,400 per sq.ft (2024)
• Cholapuram Shanthi Street: Rs 2,400 per sq.ft (2024)
• Cholapuram Natesan Street: Rs 2,400 per sq.ft (2024)
• Cholapuram Lakshmi Street: Rs 2,400 per sq.ft (2024)
• Cholapuram Vaigai Street: Rs 2,400 per sq.ft (2024)
• Cholapuram Ibrahim Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Cholapuram Saraswathi 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 is charged at 7%, which totals Rs 1,68,000, and the registration fee is charged at 2%, amounting to Rs 48,000. Together, the total fees would be Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Cholapuram Saraswathi Street?

The Cholapuram Saraswathi 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 details.

How the guideline value is used when you buy or sell in Thirumullaivoyal

The guideline value plays a crucial role in the property registration process in Thirumullaivoyal. When buying or selling property, the guideline value is used to determine the amount of stamp duty and registration fees that need to be paid. This ensures that the transaction is officially recorded and that the appropriate taxes are collected by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly affect the overall cost of the transaction. The guideline value is regularly updated to reflect changes in the real estate market and is an important factor in property dealings.

Frequently asked questions

What is the current guideline value of Cholapuram Saraswathi Street?

The current guideline value of Cholapuram Saraswathi 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 changed from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024, marking a 9% increase. It was Rs 1,474 per sq.ft in 2017 and Rs 2,200 per sq.ft in 2012, showing a significant increase over the years.

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

Other streets in Thirumullaivoyal with the same guideline value of Rs 2,400 per sq.ft include Cholapuram New Street, Cholapuram Shanthi Street, Cholapuram Natesan Street, Cholapuram Lakshmi Street, Cholapuram Vaigai Street, and Cholapuram Ibrahim Street.

What is the role of the Ambattur SRO?

The Ambattur Sub Registrar Office is responsible for the registration of property transactions in the area, including Cholapuram Saraswathi Street. It ensures that all property sales are legally documented and that the appropriate fees are collected.

How is stamp duty calculated for properties in Cholapuram Saraswathi Street?

Stamp duty for properties in Cholapuram Saraswathi Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at a rate of 7%.