Guideline Value for Cholavaram Nagar

Cholavaram Nagar guideline value

The current guideline value of Cholavaram Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This locality is situated in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Cholavaram Nagar has changed

The guideline value for Cholavaram Nagar has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,206 per sq.ft. This value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline 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, there has been a total increase of 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

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 of 2024. The median guideline value for the village is Rs 2,090 per sq.ft, placing Cholavaram Nagar's current value below this median.

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

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 or the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Cholavaram Nagar?

The Cholavaram Nagar area falls under the jurisdiction of 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 plays a crucial role during the registration of property transactions in Pammal. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Cholavaram Nagar?

The current guideline value of Cholavaram Nagar 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 from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the registration office for Cholavaram Nagar?

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

What are the stamp duty rates for properties in Cholavaram Nagar?

The stamp duty for properties in Cholavaram Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

How can I find the guideline value for other streets in Pammal?

You can find the guideline values for other streets in Pammal by checking the respective links provided for each street or by visiting the Pammal SRO.