Guideline Value for CHETTI STREET

Chetti Street guideline value

The current guideline value of Chetti Street in Salavakkam village is Rs 126 per sq.ft, effective from 1 July 2024. This street falls under the Salavakkam Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Chetti Street has changed

Looking at the historical revisions, the guideline value for Chetti Street was Rs 125 per sq.ft in 2012. This figure decreased to Rs 84 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 126 per sq.ft, a figure that remained unchanged in the 2024 revision.

It is important to note that there are no figures available for Chetti Street in the register for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a minimal increase of 1%.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 250 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing Chetti Street's 2024 figure below this median.

• Chokkamman Street: Rs 150 per sq.ft (2024)
• Chandar Nagar Phase-I,II,III: Rs 150 per sq.ft (2024)
• Chandar Nagar Phase-4: Rs 150 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 126 per sq.ft (2024)
• Dhanalakshmi Nagar Extension -I: Rs 200 per sq.ft (2024)
• Bazaar Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Chetti Street

For a 1,000 sq.ft plot at the current rate of Rs 126 per sq.ft, the guideline value amounts to Rs 1,26,000. The stamp duty at 7% would be Rs 8,820, and the registration fee at 2% would be Rs 2,520, bringing the total to Rs 11,340. 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 more details.

Which Sub Registrar Office covers Chetti Street?

The Sub Registrar Office that covers Chetti Street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor during property registration in Salavakkam. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps establish a baseline for the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Chetti Street?

The current guideline value of Chetti Street is Rs 126 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a significant increase from Rs 84 per sq.ft in 2017 to Rs 126 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, the value has increased by 1%.

What is the land classification for Chetti Street?

Chetti Street is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Chetti Street?

The Sub Registrar Office for Chetti Street is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is stamp duty calculated for properties on Chetti Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,26,000, the stamp duty would be Rs 8,820 at 7%.