Guideline Value for Chetty Street Lane

Chetty Street Lane guideline value

The current guideline value of Chetty Street Lane in Ayanavaram village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Class I Type - II.

How the guideline value of Chetty Street Lane has changed

Over the years, the guideline value of Chetty Street Lane has seen significant changes. The 2002 revision recorded a value of Rs 472 per sq.ft, which increased to Rs 530 per sq.ft in 2003, marking a 12% rise. Following this, the value surged dramatically to Rs 1,000 per sq.ft in 2007, reflecting an 89% increase. The 2012 revision saw a decrease to Rs 5,000 per sq.ft, a drop of 400% from the previous figure. In 2017, the value was revised to Rs 3,350 per sq.ft, representing a 33% decline. The 2023 revision set the value at Rs 5,000 per sq.ft, which then increased to Rs 5,500 per sq.ft in 2024, marking a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1,065%. There are no figures available for the revisions in years other than those listed.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Chetty Street Lane's 2024 value above this median.

• Chetty Thoppu street: Rs 4,400 per sq.ft (2024)
• Chetty Thottam: Rs 4,400 per sq.ft (2024)
• Chidambaram Mudali Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Chetty Street: Rs 5,500 per sq.ft (2024)
• Chengalvarayan Street: Rs 4,900 per sq.ft (2024)
• Chelliamman Koil Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chetty Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. 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 detailed calculations.

Which Sub Registrar Office covers Chetty Street Lane?

The Sub Registrar Office covering Chetty Street Lane is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role during property registration in Ayanavaram. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for duty calculations.

When purchasing or selling property, it is essential to consult the latest guideline values to ensure compliance with the registration requirements. This helps in understanding the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Chetty Street Lane?

The current guideline value of Chetty Street Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 472 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 1,065% over this period.

What classification does Chetty Street Lane fall under?

Chetty Street Lane is classified as Residential Class I Type - II under the AnnaNagar SRO.

What are the stamp duty and registration fees for properties in Chetty Street Lane?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office for Chetty Street Lane located?

The Sub Registrar Office for Chetty Street Lane is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.