Guideline Value for Chavadi Street

Chavadi Street guideline value

The current guideline value of Chavadi Street in Issa Pallavaram village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Mixed Type - II land.

How the guideline value of Chavadi Street has changed

The guideline value for Chavadi Street has seen several revisions over the years. In the 2003 revision, the guideline value was Rs 771 per sq.ft, which increased to Rs 1,750 per sq.ft in 2007, marking a significant rise of 127%. The value then jumped to Rs 4,000 per sq.ft in 2012, reflecting a 129% increase. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The following revision in 2023 saw the value rise to Rs 4,000 per sq.ft, and the most recent 2024 revision set it at Rs 4,400 per sq.ft, a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 471%. Notably, there is no figure available for the 2002 revision in the register for this street.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Chavadi Street's 2024 figure above this median.

• Dharga Road (PART): Rs 3,850 per sq.ft (2024)
• Easwari Main Cross Road: Rs 3,300 per sq.ft (2024)
• Easwari Main Road: Rs 3,850 per sq.ft (2024)
• Elumalai Street: Rs 3,300 per sq.ft (2024)
• Fathima Manzal Street: Rs 2,200 per sq.ft (2024)
• Asan Basha Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Chavadi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chavadi Street?

The Sub Registrar Office that covers Chavadi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Issa Pallavaram

The guideline value plays a crucial role in the registration of property transactions in Issa Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly impact the costs associated with the transaction. Buyers should ensure they are informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chavadi Street?

The current guideline value of Chavadi Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

In the recent years, the guideline value increased from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, a change of 10%. From 2017 to 2023, it rose by 49% from Rs 2,680 per sq.ft.

What is the land classification for Chavadi Street?

Chavadi Street is classified as Mixed Type - II land according to the guidelines.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Chavadi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.