Guideline Value for Chetti Street

Chetti Street guideline value

The current guideline value of Chetti Street is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Arani village, under the Arani_Tiruvallur SRO, and is classified as Residential Special Type - II.

How the guideline value of Chetti Street has changed

The guideline value for Chetti Street has seen several revisions over the years. In 2002, the guideline value was Rs 76 per sq.ft, which increased to Rs 85 per sq.ft in 2003. Following this, the value rose to Rs 150 per sq.ft in 2007, and then significantly increased to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 both maintained the value at Rs 500 per sq.ft, showing no change between these two years.

Overall, from 2002 to 2024, the guideline value has increased by 558%. The changes between the revisions highlight a significant rise from 2012 to 2017, where the value dropped by 33%, and a remarkable increase from 2007 to 2012, where it rose by 233%.

Guideline values in Arani

In Arani, there are 51 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 600 per sq.ft, with a median value of Rs 300 per sq.ft. Chetti Street's 2024 guideline value is above this median.

• B.V.T. Nagar: Rs 600 per sq.ft (2024)
• Dhasthagiri Sahib Street: Rs 400 per sq.ft (2024)
• Bestha Veethi: Rs 350 per sq.ft (2024)
• Bazzar Street: Rs 600 per sq.ft (2024)
• Erular Colony: Rs 300 per sq.ft (2024)
• Balaji Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Chetti Street

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total fees together Rs 45,000. 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 to estimate the fees applicable to your property transaction.

Which Sub Registrar Office covers Chetti Street?

The Sub Registrar Office that covers Chetti Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Arani. It serves as a benchmark for determining the minimum price at which a property can be sold or bought. When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction. The registration process requires adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Chetti Street?

The current guideline value of Chetti Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 76 per sq.ft in 2002 to Rs 500 per sq.ft in 2012, then dropping to Rs 335 per sq.ft in 2017, and remaining at Rs 500 per sq.ft in both 2023 and 2024.

What are the other streets in Arani with their guideline values?

Other streets in Arani include B.V.T. Nagar at Rs 600 per sq.ft, Dhasthagiri Sahib Street at Rs 400 per sq.ft, Bestha Veethi at Rs 350 per sq.ft, Bazzar Street at Rs 600 per sq.ft, Erular Colony at Rs 300 per sq.ft, and Balaji Nagar at Rs 200 per sq.ft.

How is stamp duty calculated for properties in Chetti Street?

Stamp duty for properties in Chetti Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 5,00,000, leading to a stamp duty of Rs 35,000.

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

The Sub Registrar Office covering Chetti Street is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find more information by visiting the provided link.