Guideline Value for Chekkadi Street

Chekkadi Street guideline value

The current guideline value of Chekkadi Street in Thiruvallur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This property falls under the Tiruvallur Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Chekkadi Street has changed

The guideline value for Chekkadi Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 320 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 525%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a reduction of 33%. The value saw a substantial increase again, reaching Rs 2,000 per sq.ft in 2023, which was a 49% increase from the previous revision. The current guideline value stands at Rs 2,200 per sq.ft from the 2024 revision, reflecting a 10% increase from 2023.

It is important to note that there are no recorded figures for Chekkadi Street in the revisions for 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 588%.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO with a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, positioning Chekkadi Street's 2024 figure above this median.

• Bypass Road: Rs 3,300 per sq.ft (2024)
• Cinema lane: Rs 1,650 per sq.ft (2024)
• Bharathiyar Street: Rs 1,100 per sq.ft (2024)
• Dharmalingam Street: Rs 1,100 per sq.ft (2024)
• Began Street: Rs 1,100 per sq.ft (2024)
• Bazar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chekkadi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is essential to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Chekkadi Street?

Chekkadi Street is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the buyer is required to pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chekkadi Street?

The current guideline value of Chekkadi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 320 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which is an overall increase of 588%.

What is the median guideline value in Thiruvallur?

The median guideline value for the 172 streets in Thiruvallur under the Tiruvallur Joint 1 SRO is Rs 1,100 per sq.ft.

What are the stamp duty and registration fees for Chekkadi Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000. The stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Chekkadi Street?

The Tiruvallur Joint 1 Sub Registrar Office handles the registration for Chekkadi Street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.