Guideline Value for Chakkaravarthy Street

Chakkaravarthy Street guideline value

The current guideline value of Chakkaravarthy Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Chakkaravarthy Street has changed

The guideline value for Chakkaravarthy Street has seen several revisions over the years. In 2007, the guideline value was Rs 850 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, it then decreased to Rs 1,474 per sq.ft in 2017. The value rose again to Rs 2,200 per sq.ft in 2023 and currently stands at Rs 2,400 per sq.ft from the 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, followed by a further increase of 9% from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 182%. The fluctuations in the guideline value reflect the changes in the real estate landscape over the years.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, making Chakkaravarthy Street's 2024 figure above that median.

• Camp Road 1st Street: Rs 1,900 per sq.ft (2024)
• Camp Road 1st Cross Street: Rs 1,600 per sq.ft (2024)
• Camp Road: Rs 3,300 per sq.ft (2024)
• Burma Agathical Colony: Rs 850 per sq.ft (2024)
• Buddhar Street Extension: Rs 2,750 per sq.ft (2024)
• Buddhar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Chakkaravarthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chakkaravarthy Street?

The Sub Registrar Office that covers Chakkaravarthy Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value is often considered the minimum value for property transactions in the area.

When a property is sold, the sale price must be compared to the guideline value. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chakkaravarthy Street?

The current guideline value of Chakkaravarthy Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 182% over the years.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, with Chakkaravarthy Street's 2024 figure above this median.

What are the stamp duty rates for properties in Chakkaravarthy Street?

The stamp duty for properties in Chakkaravarthy Street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Chakkaravarthy Street located?

The Sub Registrar Office for Chakkaravarthy Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.