Guideline Value for CHETTY STREET

Chetty Street guideline value

The current guideline value of Chetty Street in Uthukottai village is Rs 500 per sq.ft, effective from 1 July 2024. This street falls under the Oothukkottai SRO and is classified as Residential Class I Type - I.

How the guideline value of Chetty Street has changed

The guideline value for Chetty Street has seen several revisions over the years. In 2002, the value was Rs 104 per sq.ft, which increased to Rs 114 per sq.ft in 2003, marking a 10% rise. The next revision in 2012 saw the value remain at Rs 500 per sq.ft, a significant increase of 339% from the 2003 figure. However, in 2017, the value dropped to Rs 335 per sq.ft, a decrease of 33% from 2012. The 2023 revision maintained the value at Rs 500 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

In summary, from 2017 to 2023, there was a 49% increase in value, while the overall change from 2002 to 2024 reflects a 381% increase. It is important to note that the register has no figure for Chetty Street in 2007.

Guideline values in Uthukottai

In Uthukottai, there are 120 streets under the Oothukkottai SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,000 per sq.ft, with a median value of Rs 500 per sq.ft. Chetty Street's 2024 figure aligns with this median.

• Chettiar Burialground Road: Rs 300 per sq.ft (2024)
• CHETTIAR BURIALGROUND BACKSIDE 2nd STREET: Rs 300 per sq.ft (2024)
• CHETTIAR BURIALGROUND BACKSIDE 1st STREET: Rs 300 per sq.ft (2024)
• Chenjulakshmi Nagar Street: Rs 500 per sq.ft (2024)
• Chelliamman Nagar: Rs 500 per sq.ft (2024)
• Chelliamman Koil Road: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, leading to a total of Rs 45,000 in fees. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Chetty Street?

The Sub Registrar Office that covers Chetty Street is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Chetty Street?

The current guideline value of Chetty Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, with an increase from Rs 104 per sq.ft in 2002 to Rs 500 per sq.ft in 2024, reflecting a total increase of 381% over the years.

What is the stamp duty for property in Chetty Street?

The stamp duty for property in Chetty Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 35,000.

Where is the Oothukkottai Sub Registrar Office located?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, 602026, Chennai registration zone.

What is the land classification for Chetty Street?

Chetty Street is classified as Residential Class I Type - I, indicating its suitability for residential development.