Guideline Value for CHETTI STREET

Chetti Street guideline value

The current guideline value of Chetti Street in Walajabad village is Rs 750 per sq.ft, effective from 1 July 2024. This street falls under the Walajabad SRO and is classified as Residential Class IV Type - I.

How the guideline value of Chetti Street has changed

The guideline value for Chetti Street has undergone several revisions over the years. In 2007, the value was set at Rs 60 per sq.ft, which saw a significant increase to Rs 750 per sq.ft in 2012. However, this value dropped to Rs 502 per sq.ft in 2017. The most recent revisions in 2023 and 2024 maintained the guideline value at Rs 750 per sq.ft, showing no change between these two years.

From 2007 to 2012, the guideline value increased by 1150%. Following this, the value decreased by 33% from 2012 to 2017. The subsequent increase from 2017 to 2023 was 49%, and the overall change from 2007 to 2024 stands at 1150%.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 750 per sq.ft, making Chetti Street's 2024 figure equal to this median.

• Chennasamy Nagar: Rs 750 per sq.ft (2024)
• Chinnakadaarumai Nayagam St: Rs 750 per sq.ft (2024)
• Chinnakadai Arulnathan Street: Rs 750 per sq.ft (2024)
• Chinnakadai Magimaidhas Forth Street: Rs 750 per sq.ft (2024)
• Chinnakadai Sakkiliar Nattham Nagara Suthi: Rs 750 per sq.ft (2024)
• Chinnakadai Second Bungalow Srteet: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Chetti Street

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, totaling Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. 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 Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Walajabad. It serves as a benchmark for determining the minimum value at which properties can be registered. 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 property is registered at a value that reflects its worth according to the official guidelines. Buyers and sellers should be aware of the guideline value to avoid any discrepancies 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 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 60 per sq.ft in 2007, increasing to Rs 750 in 2012, dropping to Rs 502 in 2017, and remaining at Rs 750 in 2023 and 2024.

What is the land classification for Chetti Street?

Chetti Street is classified as Residential Class IV Type - I, which indicates its designation for residential use.

Where can I find the registration office for Chetti Street?

The registration office for Chetti Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Chetti 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 valued at Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000, with stamp duty and registration fees totaling Rs 67,500.