Guideline Value for CHETTY THOPPU

Chetty Thoppu guideline value

The current guideline value for Chetty Thoppu is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Chetty Thoppu has changed

The guideline value for Chetty Thoppu has undergone several revisions over the years. Starting from Rs 495 per sq.ft in 2002, it increased to Rs 565 per sq.ft in 2003. The value continued to rise, reaching Rs 950 per sq.ft in 2007, followed by a significant jump to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The most recent revisions saw the value increase to Rs 2,000 per sq.ft in 2023, and further to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has seen a substantial increase of 344%. The revisions for 2012, 2017, and 2023 are noteworthy, with the 2012 to 2017 period showing a decrease of 33%, while the 2017 to 2023 period reflected an increase of 49%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Chetty Thoppu is below this median.

• Deepam Flats: Rs 13,200 per sq.ft (2024)
• BHARATHI NAGAR WEST 2nd STREET: Rs 2,200 per sq.ft (2024)
• BHARATHI NAGAR WEST 1st STREET: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• BHARATHI NAGAR 2nd STREET (SLUM BOARD): Rs 2,200 per sq.ft (2024)
• BHARATHI NAGAR 1st STREET (SLUM BOARD): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Chetty Thoppu

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total cost of Rs 1,98,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Chetty Thoppu?

The Sub Registrar Office that covers Chetty Thoppu 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 Villivakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the higher value between the guideline value and the sale price is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value for Chetty Thoppu?

The current guideline value for Chetty Thoppu 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 increased from Rs 495 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 344% over this period.

What are the stamp duty rates for property in Chetty Thoppu?

The stamp duty for property in Chetty Thoppu is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Chetty Thoppu located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How many streets in Villivakkam have a guideline value?

There are 372 streets in Villivakkam under the Villivakkam SRO that carry a guideline value for the year 2024.