Guideline Value for Cholapuram lakshmi Street

Cholapuram lakshmi Street guideline value

The current guideline value of Cholapuram lakshmi 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 lakshmi Street has changed

The guideline value for Cholapuram lakshmi Street has undergone several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, it then saw a decrease to Rs 1,474 per sq.ft in 2017. The value rose again to Rs 2,200 per sq.ft in 2023 and is now set at Rs 2,400 per sq.ft from the 2024 revision, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 1100%. The revisions for the years 2002 and 2003 have no figures recorded for this street in the register.

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 value is Rs 2,400 per sq.ft, which is equal to the current guideline value of Cholapuram lakshmi Street.

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

Stamp duty and registration fee for property in Cholapuram lakshmi 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, totaling 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 lakshmi Street?

The Cholapuram lakshmi 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 an essential factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark to determine the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is crucial for both the buyer and seller. This value is used to calculate the necessary fees, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Cholapuram lakshmi Street?

The current guideline value of Cholapuram lakshmi 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 significantly from Rs 200 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, marking an overall increase of 1100%.

What is the land classification of Cholapuram lakshmi Street?

Cholapuram lakshmi Street is classified as Residential Class I Type - I.

Where is the Ambattur Sub Registrar Office located?

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 the stamp duty calculated for properties in Cholapuram lakshmi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000.