Guideline Value for Chenti Chetty Street

Chenti Chetty Street guideline value

The current guideline value of Chenti Chetty Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Chenti Chetty Street has changed

The guideline value for Chenti Chetty Street has experienced several revisions over the years. The most recent revision in 2024 set the value at Rs 8,700 per sq.ft, an increase of 9% from the 2023 revision of Rs 8,000 per sq.ft. Prior to these revisions, there are no figures available for the years 2017, 2012, 2007, 2003, and 2002 in the register for this street.

In summary, the guideline value rose from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. The historical revisions for this street do not provide any figures for the earlier years, indicating a lack of recorded values in the register.

Guideline values in Mylapore Part 1

Mylapore Part 1 comprises 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, placing Chenti Chetty Street's 2024 figure below this median.

• Chidambaram Pillai Street: Rs 8,700 per sq.ft (2024)
• Chellappa Naicken St: Rs 8,700 per sq.ft (2024)
• Chitharanjan Lane: Rs 15,400 per sq.ft (2024)
• Chittaranjan Salai: Rs 15,400 per sq.ft (2024)
• Chamiers Road / Pasumpon: Rs 17,600 per sq.ft (2024)
• Chamiers Lane: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chenti Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total fees together to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chenti Chetty Street?

The Sub Registrar Office that covers Chenti Chetty Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is used to assess the applicable charges, ensuring that the fees are calculated based on the official valuation rather than the sale price alone. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Chenti Chetty Street?

The current guideline value of Chenti Chetty Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, marking a 9% increase.

What is the land classification for Chenti Chetty Street?

Chenti Chetty Street is classified as Residential Class I Type - III, indicating its designation for residential purposes.

What are the registration fees for property in Chenti Chetty Street?

The registration fees for a property in Chenti Chetty Street are calculated based on the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 7,83,000, including stamp duty and registration fees.

Where can I find the Sub Registrar Office for Chenti Chetty Street?

The Sub Registrar Office for Chenti Chetty Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more information by visiting the provided link.