Guideline Value for Cholavaram Nagar,1st Street,

Cholavaram Nagar,1st Street, guideline value

The current guideline value of Cholavaram Nagar,1st 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,1st Street, has changed

The guideline value for Cholavaram Nagar,1st Street has undergone several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, which represents 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 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Cholavaram Nagar,1st Street's current guideline value is below this median.

• Cholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Cholavaram Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)
• Cholan Street / Muthamzahi Nagar: Rs 2,475 per sq.ft (2024)
• Cholavaram Nagar, 3rd Street: Rs 1,980 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,1st 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, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Cholavaram Nagar,1st Street,?

The Cholavaram Nagar,1st Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the authorities will assess the guideline value to calculate the applicable duties. The buyer is required to pay the stamp duty based on the higher value between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Cholavaram Nagar,1st Street?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% overall. It was Rs 1,206 per sq.ft in 2017, rose to Rs 1,800 per sq.ft in 2023, and is now Rs 1,980 per sq.ft in 2024.

What is the land classification of Cholavaram Nagar,1st Street?

Cholavaram Nagar,1st Street is classified as Residential Class II Type - II.

Where can I find the registration office for Cholavaram Nagar,1st Street?

The registration office for Cholavaram Nagar,1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Cholavaram Nagar,1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600.