Guideline Value for Choolai High Road

Choolai High Road guideline value

The current guideline value of Choolai High Road is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Commercial Special Type - V.

How the guideline value of Choolai High Road has changed

Over the years, the guideline value for Choolai High Road has seen significant changes. In the 2007 revision, the value was Rs 3,000 per sq.ft. This increased to Rs 9,000 per sq.ft in 2012, marking a substantial rise of 200%. However, in the 2017 revision, the value decreased to Rs 6,030 per sq.ft, a drop of 33%. The value then rose to Rs 9,000 per sq.ft in the 2023 revision, and currently stands at Rs 9,900 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 230%. The years have seen fluctuations, with the most notable jump occurring between 2007 and 2012, followed by a steady increase leading up to the current figure.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median of Rs 4,800 per sq.ft. Choolai High Road's current 2024 figure of Rs 9,900 per sq.ft is above this median.

• Choolai Bazaar Road: Rs 8,800 per sq.ft (2024)
• Choolai Bazaar Lane: Rs 7,700 per sq.ft (2024)
• Church Street: Rs 11,500 per sq.ft (2024)
• Chinnthambi Pillai 2nd street: Rs 6,000 per sq.ft (2024)
• Chinnathambi Pillai 1st street: Rs 6,000 per sq.ft (2024)
• Coovum river Road & Riverside Road: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Choolai High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Choolai High Road?

The Sub Registrar Office that covers Choolai High Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Vepery. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

When a property transaction takes place, the guideline value ensures that the government receives appropriate revenue through stamp duty and registration fees. It serves as a reference point for both buyers and sellers during the registration process.

Frequently asked questions

What is the current guideline value of Choolai High Road?

The current guideline value of Choolai High Road is Rs 9,900 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 3,000 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, with various revisions in between showing both increases and decreases.

What are the stamp duty and registration fees for properties on Choolai High Road?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Which Sub Registrar Office covers Choolai High Road?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, covers Choolai High Road.

What is the land classification for Choolai High Road?

Choolai High Road is classified as Commercial Special Type - V under the guideline value register.