Guideline Value for Chavadi Medu

Chavadi Medu guideline value

The current guideline value of Chavadi Medu is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village, under the jurisdiction of the Redhills SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Chavadi Medu has changed

Over the years, the guideline value of Chavadi Medu has seen several revisions. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, the value then decreased to Rs 268 per sq.ft in 2017. Following this, the 2023 revision brought the value up to Rs 400 per sq.ft, and the most recent 2024 revision has set it at Rs 440 per sq.ft.

In terms of percentage changes, from 2007 to 2012, there was a 100% increase, followed by a 33% decrease from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO with guideline values ranging from Rs 440 to Rs 1,500 per sq.ft. The median guideline value in this area is Rs 660 per sq.ft, placing Chavadi Medu's 2024 figure below this median.

• Buela Street: Rs 660 per sq.ft (2024)
• Bharathinagar Extn-II: Rs 440 per sq.ft (2024)
• Bharathi Nagar Extetion - 1: Rs 880 per sq.ft (2024)
• Bharathi Nagar: Rs 660 per sq.ft (2024)
• Bharathi Avenue: Rs 440 per sq.ft (2024)
• Bharathiar Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Chavadi Medu

For a plot size of 1,000 sq.ft at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chavadi Medu?

The Sub Registrar Office that covers Chavadi Medu is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Grandlyon. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This is essential for both buyers and sellers to understand, as it affects the overall costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Chavadi Medu?

The current guideline value of Chavadi Medu is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, with various increases and decreases in between.

Where can I find the Sub Registrar Office for Chavadi Medu?

The Sub Registrar Office for Chavadi Medu is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty and registration fees for property in Chavadi Medu?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 39,600.

What is the land classification of Chavadi Medu?

Chavadi Medu is classified as Residential Class III Type - I.