Guideline Value for CHITHALU CHETTY STREET

Chithalu Chetty Street guideline value

The current guideline value of Chithalu Chetty Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Chithalu Chetty Street has changed

The guideline value for Chithalu Chetty Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, it decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, followed by a further increase to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 206%. There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, which is equal to the 2024 figure for Chithalu Chetty Street.

• Chinnathambi Naicken Street: Rs 5,500 per sq.ft (2024)
• Chokkavel Subramaniya Swamy Koil Street: Rs 4,900 per sq.ft (2024)
• Chinnababu Street: Rs 4,400 per sq.ft (2024)
• Choolai Bazar Lane: Rs 8,800 per sq.ft (2024)
• Choolai Bazar Road: Rs 8,800 per sq.ft (2024)
• Church Lane: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Chithalu Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. 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 information.

Which Sub Registrar Office covers Chithalu Chetty Street?

The Sub Registrar Office that covers Chithalu Chetty Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

When buying or selling property in Purasaivakkam, the guideline value plays a crucial role during the registration process. It is used to calculate the stamp duty and registration fees, which are mandatory for any property transaction.

The guideline value is determined by the local authorities and is subject to revisions based on various factors. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with the legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Chithalu Chetty Street?

The current guideline value of Chithalu Chetty Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification for Chithalu Chetty Street?

Chithalu Chetty Street is classified as Residential Class III Type - I, indicating its designated use for residential purposes.

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

Other streets in Purasaivakkam include Chinnathambi Naicken Street at Rs 5,500 per sq.ft, Chokkavel Subramaniya Swamy Koil Street at Rs 4,900 per sq.ft, and several others with varying rates.

Where can I find the Sub Registrar Office for Chithalu Chetty Street?

The Sub Registrar Office for Chithalu Chetty Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find more information about your SRO online.