Guideline Value for CHETTY STREET

Chetty Street guideline value

The current guideline value of Chetty Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Ist Division village under the Kanchipuram Joint IV SRO and is classified as Commercial Class I Type - III.

How the guideline value of Chetty Street has changed

The guideline value for Chetty Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and finally rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Notably, there are no figures available in the register for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ist Division

In the Ist Division village, there are 79 streets under the Kanchipuram Joint IV SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 3,300 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Chetty Street's 2024 guideline value above this median.

• Chengalpet Road: Rs 1,430 per sq.ft (2024)
• Cheety Street @ C.V.Rajagopal Street: Rs 2,200 per sq.ft (2024)
• Chakkarathazhvar Nagar: Rs 880 per sq.ft (2024)
• Cross Back Street: Rs 1,650 per sq.ft (2024)
• Cross Street: Rs 1,650 per sq.ft (2024)
• Birunthavanam Street @ Palla Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Chetty Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chetty Street?

The Sub Registrar Office that covers Chetty Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Ist Division. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees applicable to the transaction.

During the registration process, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chetty Street?

The current guideline value of Chetty Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Chetty Street?

Chetty Street is classified as Commercial Class I Type - III.

What is the stamp duty rate for properties in Chetty Street?

The stamp duty rate for properties in Chetty Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Chetty Street located?

The Sub Registrar Office for Chetty Street is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.