Guideline Value for CHETTY THOTTAM STREET

Chetty Thottam Street guideline value

The current guideline value of Chetty Thottam Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO, with a land classification of Residential Class III Type - I.

How the guideline value of Chetty Thottam Street has changed

Over the years, the guideline value for Chetty Thottam Street has seen significant changes. The 2003 revision recorded a value of Rs 827 per sq.ft. This increased to Rs 1,300 per sq.ft in 2007, marking a rise of 57%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 131%. However, the value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. Following this, the 2023 revision set the value at Rs 3,000 per sq.ft, which then rose by 10% to the current value of Rs 3,300 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 299%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Chetty Thottam Street's current guideline value is below this median.

• Chetty Street: Rs 4,400 per sq.ft (2024)
• Chinnammal Street: Rs 3,300 per sq.ft (2024)
• Central Exercise Colony: Rs 4,950 per sq.ft (2024)
• Customs Colony: Rs 4,950 per sq.ft (2024)
• Brahmin Street: Rs 5,500 per sq.ft (2024)
• Deewan Bashyam Garden Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chetty Thottam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property.

Which Sub Registrar Office covers Chetty Thottam Street?

The Sub Registrar Office that covers Chetty Thottam Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for additional details.

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

The guideline value plays a crucial role during property transactions in Saidapet. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

Additionally, the guideline value serves as a benchmark for the valuation of properties in the area. It is essential for both parties in a transaction to understand how this value impacts the overall cost of buying or selling property in Saidapet.

Frequently asked questions

What is the current guideline value of Chetty Thottam Street?

The current guideline value of Chetty Thottam Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, rising from Rs 827 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 299%.

What are the other streets in Saidapet with their guideline values?

Other streets in Saidapet include Chetty Street at Rs 4,400 per sq.ft, Chinnammal Street at Rs 3,300 per sq.ft, and several others ranging up to Rs 5,500 per sq.ft.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office should I contact for Chetty Thottam Street?

The Chennai South Joint II Sub Registrar Office covers Chetty Thottam Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.