Guideline Value for Cholavaram Nagar ,3rd Street

Cholavaram Nagar ,3rd Street guideline value

The current guideline value for Cholavaram Nagar ,3rd Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Cholavaram Nagar ,3rd Street has changed

The guideline value for Cholavaram Nagar ,3rd Street has seen several revisions over the years. The 2017 revision recorded a value of Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Cholavaram Nagar ,3rd Street's 2024 figure below this median.

• Cholavaram Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)
• Cholavaram Nagar, 1st Street: Rs 1,980 per sq.ft (2024)
• Cholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Cholan Street / Muthamzahi Nagar: Rs 2,475 per sq.ft (2024)
• Church Street / Ponni Nagar: Rs 1,980 per sq.ft (2024)
• Children Street, Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Cholavaram Nagar ,3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, leading to a total of Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Cholavaram Nagar ,3rd Street?

The Cholavaram Nagar ,3rd Street falls under the Pammal Sub Registrar Office located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when transferring property ownership. Buyers and sellers must be aware that these fees are based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to consider the guideline value as it impacts the overall costs associated with the transaction. Understanding the guideline value can help in planning your budget effectively when engaging in property transactions in Pammal.

Frequently asked questions

What is the current guideline value of Cholavaram Nagar ,3rd Street?

The current guideline value of Cholavaram Nagar ,3rd Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations in Cholavaram Nagar?

The Pammal Sub Registrar Office handles property registrations for Cholavaram Nagar ,3rd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Cholavaram Nagar ,3rd Street?

Cholavaram Nagar ,3rd Street is classified as Residential Class II Type - II according to the current guidelines.