Guideline Value for CHARI STREET

Chari Street guideline value

The current guideline value of Chari Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, and the land classification is Residential Special Type - II.

How the guideline value of Chari Street has changed

The guideline value for Chari Street has seen several revisions over the years. In 2002, the value was Rs 1,510 per sq.ft. It increased to Rs 2,850 per sq.ft in 2003, marking an increase of 89%. The value then rose to Rs 4,000 per sq.ft in 2007, which was a 40% increase. Following this, the value significantly jumped to Rs 9,000 per sq.ft in 2012, reflecting a 125% increase. However, in 2017, the value dropped to Rs 6,030 per sq.ft, which was a decrease of 33%. The guideline value then rose again to Rs 9,000 per sq.ft in 2023, before reaching the current value of Rs 9,900 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 556%. There are no figures available for the revisions in years not mentioned in this summary.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. The guideline value of Chari Street is below this median.

• Cart Track Street: Rs 8,300 per sq.ft (2024)
• Canal Bank Road: Rs 8,800 per sq.ft (2024)
• Chinniah Pillai Street: Rs 9,900 per sq.ft (2024)
• Burkit Road: Rs 17,600 per sq.ft (2024)
• Boag Road: Rs 17,600 per sq.ft (2024)
• B.N.REDDY ROAD 3rd STREET: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chari Street

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

Which Sub Registrar Office covers Chari Street?

The Sub Registrar Office that covers Chari Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Tnagar. It determines the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the government collects the necessary revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chari Street?

The current guideline value of Chari Street 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 from Rs 1,510 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 556% over the years.

What is the land classification for Chari Street?

The land classification for Chari Street is Residential Special Type - II, indicating its designated use for residential purposes.

Where is the Sub Registrar Office for Chari Street located?

The Sub Registrar Office for Chari Street is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for properties on Chari Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 6,93,000.