Guideline Value for Chetty Street

Chetty Street guideline value

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

How the guideline value of Chetty Street has changed

Over the years, the guideline value for Chetty Street has seen significant changes. Starting from Rs 624 per sq.ft in 2002, it increased to Rs 1,200 per sq.ft in 2007, marking a rise of 92%. The value then surged by 317% to reach Rs 5,000 per sq.ft in 2012. However, it decreased by 33% to Rs 3,350 per sq.ft in 2017. The value then saw a substantial increase of 49%, reaching Rs 5,000 per sq.ft in 2023, before finally rising to Rs 5,500 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figure for this street in 2003.

Guideline values in Ayanavaram

Ayanavaram 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 is Rs 4,900 per sq.ft, placing Chetty Street's 2024 value above this median.

• Chetty Street Lane: Rs 5,500 per sq.ft (2024)
• 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)
• 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

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the 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, totaling Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Chetty Street?

The Sub Registrar Office that covers Chetty Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Ayanavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Chetty Street?

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

How has the guideline value changed over the years?

Since 2002, the guideline value of Chetty Street has increased from Rs 624 per sq.ft to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 781%.

What is the land classification for Chetty Street?

Chetty Street is classified as Residential Class I Type - II, which is a designation under the local land classification system.

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

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 located?

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