Guideline Value for Chandru Street

Chandru Street guideline value

The current guideline value of Chandru Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and falls under the Residential Class II Type - III land classification.

How the guideline value of Chandru Street has changed

In the 2017 revision, the guideline value for Chandru Street was Rs 2,345 per sq.ft. This figure increased significantly to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase, bringing the value to Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Velachery

Chandru Street's guideline value of Rs 3,850 per sq.ft is below the median guideline value of Rs 4,400 per sq.ft for the 2,691 streets in Velachery under the Velacheri SRO, which range from Rs 3,300 to Rs 13,200 per sq.ft.

• Chellappa Street: Rs 3,850 per sq.ft (2024)
• Chandran Street: Rs 4,400 per sq.ft (2024)
• Chelliamman Lane (Selliamman Lane): Rs 4,400 per sq.ft (2024)
• Chelliamman Nagar 1st street: Rs 4,950 per sq.ft (2024)
• Chelliamman Nagar 2nd street: Rs 4,950 per sq.ft (2024)
• Chelliamman Nagar 3rd street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Chandru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chandru Street?

The Sub Registrar Office that covers Chandru Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Velachery, the guideline value is used to calculate the stamp duty and registration fees that must be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding how this value is determined can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Chandru Street?

The current guideline value of Chandru Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty and registration fees for property in Chandru Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000, leading to a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000, resulting in total fees of Rs 3,46,500.

Which office handles registrations for Chandru Street?

The Velacheri Sub Registrar Office handles registrations for Chandru Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Chandru Street?

Chandru Street falls under the Residential Class II Type - III land classification, indicating its designated use for residential purposes.