Guideline Value for Cholavaram Nagar, 2nd Street

Cholavaram Nagar, 2nd Street guideline value

The current guideline value for Cholavaram Nagar, 2nd Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Cholavaram Nagar, 2nd Street has changed

The guideline value for Cholavaram Nagar, 2nd Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 raised the guideline value to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 to 2024 revisions, the guideline value has increased by 64%.

Guideline values in Pammal

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

• Cholavaram Nagar, 1st Street: Rs 1,980 per sq.ft (2024)
• Cholavaram Nagar, 3rd 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, 2nd 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, while the registration fee at 2% would be Rs 39,600, bringing the total cost to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cholavaram Nagar, 2nd Street?

The Sub Registrar Office that covers Cholavaram Nagar, 2nd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Pammal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the costs involved in the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Cholavaram Nagar, 2nd Street?

The current guideline value of Cholavaram Nagar, 2nd Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, which is a total increase of 64% over the years.

What are the stamp duty and registration fees for property in Cholavaram Nagar, 2nd Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 19,80,000, the total fees would amount to Rs 1,78,200.

Which Sub Registrar Office covers Cholavaram Nagar, 2nd Street?

The Pammal Sub Registrar Office covers Cholavaram Nagar, 2nd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Cholavaram Nagar, 2nd Street?

Cholavaram Nagar, 2nd Street is classified as Residential Class II Type - II, indicating its suitability for residential development.