Guideline Value for Chavadi Street

Chavadi Street guideline value

The current guideline value of Chavadi Street in Zaminpallavaram village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Commercial Class I Type - III.

How the guideline value of Chavadi Street has changed

The guideline value for Chavadi Street has seen significant changes over the years. In the 2003 revision, the value was Rs 834 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. The 2012 revision marked a substantial jump to Rs 3,500 per sq.ft, followed by a rise to Rs 3,750 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, reflecting a 17% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2017 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 428%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Chavadi Street's 2024 value above this median.

• Chellan Street: Rs 2,200 per sq.ft (2024)
• Chandrasekaran Street: Rs 3,850 per sq.ft (2024)
• Chandra Nagar: Rs 2,100 per sq.ft (2024)
• Chembers Colony 10th Cross St.: Rs 3,300 per sq.ft (2024)
• Chambers Colony Kothandam Nagar 1,2,3,4,5: Rs 3,300 per sq.ft (2024)
• Chembers Colony 1st Cross St.: Rs 3,300 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

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 over the years?

The guideline value has increased from Rs 834 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 428% over the years.

What is the land classification of Chavadi Street?

Chavadi Street is classified as Commercial Class I Type - III, which indicates its suitability for commercial activities.

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

The Sub Registrar Office for Chavadi Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Chavadi Street?

Stamp duty for properties in Chavadi Street is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.