Guideline Value for CHAVADI STREET

Chavadi Street guideline value

The current guideline value of Chavadi Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO, classified as Residential Special Type - III.

How the guideline value of Chavadi Street has changed

The guideline value for Chavadi Street has undergone several revisions since 2002. In 2002, the value was Rs 163 per sq.ft, which increased significantly to Rs 375 per sq.ft in 2007, marking a change of +130%. By 2012, the value rose to Rs 3,000 per sq.ft, representing a substantial increase of +700% from the previous revision. The most recent revision in 2024 sets the guideline value at Rs 3,300 per sq.ft, reflecting a +10% increase from 2012.

It is important to note that there are no figures available for Chavadi Street in the revisions for 2003, 2017, and 2023. Overall, from 2002 to 2024, the guideline value has increased by +1925%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Chavadi Street's 2024 figure above this median.

• Chennai - Thiruvallur High Road (M.T.H Road): Rs 8,200 per sq.ft (2024)
• Chennai -Thiruvallur High Road (M.T.H Road) (T.V.S. Group Of Companies): Rs 8,200 per sq.ft (2024)
• Chetty Street: Rs 2,700 per sq.ft (2024)
• Chockalingam Street: Rs 1,600 per sq.ft (2024)
• Brindavan Nagar: Rs 2,700 per sq.ft (2024)
• Brahmin Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chavadi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Chavadi Street?

The Sub Registrar Office covering Chavadi Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Korattur. 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 guideline value is assessed to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of this value as it directly impacts the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Chavadi Street?

The current guideline value of Chavadi Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 163 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of +1925% over this period.

What is the land classification for Chavadi Street?

Chavadi Street is classified as Residential Special Type - III under the Villivakkam SRO.

Where can I find the registration office for Chavadi Street?

The Villivakkam Sub Registrar Office is the registration office for Chavadi Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Chavadi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft would incur a stamp duty of Rs 2,31,000.