Guideline Value for Cauvery Street

Cauvery Street guideline value

The current guideline value of Cauvery Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO with a land classification of Residential Class I Type - II.

How the guideline value of Cauvery Street has changed

The guideline value for Cauvery Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 2,500 per sq.ft, and the latest revision in 2024 sets the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for Cauvery Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, making Cauvery Street's 2024 figure above the median.

• Chakrapani Street: Rs 1,100 per sq.ft (2024)
• Chakratees Street: Rs 1,650 per sq.ft (2024)
• Buddhar Street: Rs 2,750 per sq.ft (2024)
• Chandran Avenue: Rs 2,750 per sq.ft (2024)
• Chithambaranar St: Rs 1,650 per sq.ft (2024)
• Bhavani street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Cauvery Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Cauvery Street?

The Sub Registrar Office that covers Cauvery Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Cauvery Street?

The current guideline value of Cauvery Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Cauvery Street?

Cauvery Street is classified as Residential Class I Type - II according to the local land classification regulations.

What are the stamp duty and registration fees for properties on Cauvery Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,50,000, the total charges would amount to Rs 2,47,500.

Which office handles registrations for Cauvery Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Cauvery Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.