Guideline Value for Chari Street

Chari Street guideline value

The current guideline value of Chari Street is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO, with a land classification of Residential Class I Type - III.

How the guideline value of Chari Street has changed

The guideline value for Chari Street has undergone several revisions over the years. The earliest recorded figure in the register is from 2003, which was Rs 517 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2007, marking a 93% rise. In 2012, the value rose to Rs 7,600 per sq.ft, a substantial increase of 660%. However, it then dropped to Rs 5,092 per sq.ft in 2017, reflecting a decrease of 33%. The value saw a remarkable increase to Rs 7,600 per sq.ft in 2023, followed by the current figure of Rs 8,300 per sq.ft in 2024, which is a 9% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1505%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Chari Street's current guideline value of Rs 8,300 per sq.ft is above this median.

• Charurbujadoss Road: Rs 11,000 per sq.ft (2024)
• Chandira banu street: Rs 10,100 per sq.ft (2024)
• Chamundeswari kovil 5th street: Rs 7,100 per sq.ft (2024)
• Chamundeswari kovil 4th street: Rs 7,100 per sq.ft (2024)
• Chamundeswari kovil 3rd street: Rs 7,100 per sq.ft (2024)
• Chamundeswari kovil 2nd street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value would be Rs 83,00,000. The stamp duty at 7% would amount to Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total to Rs 7,47,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chari Street?

The Sub Registrar Office that covers Chari Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Egmore. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, it is essential to consider the guideline value as it affects the financial obligations during the transaction. Buyers should be aware that the guideline value can influence the total cost of acquiring property in the area.

Frequently asked questions

What is the current guideline value of Chari Street?

The current guideline value of Chari Street is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 517 per sq.ft in 2003 to Rs 8,300 per sq.ft in 2024, reflecting an overall increase of 1505%.

What is the land classification for Chari Street?

Chari Street is classified as Residential Class I Type - III according to the local regulations.

Where can I find the Sub Registrar Office for Chari Street?

The Sub Registrar Office for Chari Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 83,00,000, the stamp duty would be Rs 5,81,000 at a rate of 7%.