Tamil Nadu Governor Ch Vidyasagar Rao, Chief Minister O Paneerselvam, DMK leader M K Stalin and superstar Rajnikanth were among those who paid floral tributes to Cho at his residence.
The 82-year-old, who was admitted to Apollo Hospitals last week for respiratory problems, is survived by his wife, son and daughter.
In his tweet, Prime Minister Narendra Modi described him as a multidimensional personality, towering intellectual and a great nationalist.
"Cho Ramaswamy was insightful, frank & brilliant. Pained by his demise. Condolences to his family & countless readers of Thuglak," Modi said.
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The wreath was laid by State Protocol Officer Shiv Das Meena, it said.
A stream of admirers, literary personalites and those from the cinema and theatre world also paid tributes to Cho at his residence.
A lawyer by profession, Cho was a popular name in theatre, cinema and journalism. He was a nominated member of the Rajya Sabha from 1999 to 2005.
"I am deeply shocked and grieved to hear about the sad demise of Cho Ramaswamy, an actor, editor, lawyer and writer. He was a multifaceted personality, a bold, veteran journalist and a political critic who never hesitated to express his views unequivocally," he said in a Raj Bhavan statement.
The field of journalism "has lost a doyen and a great personality," he said.
Panneerselvam, accompanied by his cabinet colleagues C Srinivasan, Edappadi K Palaniswamy, P Thangamani and S P Velumani, paid homage to Ramaswamy.
DMK President M Karunanidhi, in a statement, said despite political differences, Ramaswamy had great love and affection for him.
Rajinikanth described Ramaswamy as a "close friend" and recalled they had been friends since 1978.
"Whenever I was in Chennai, I used to visit him at least once a week," he told reporters after paying homage to Cho.
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Later, the mortal remains of Ramaswamy were cremated at Besant Nagar crematorium in the city.
The funeral procession left from his house at MRC Nagar and reached the crematorium where the last rites were held.
Scores of political leaders, actors and others were present during the cremation.