Guideline Value for Chetty Street

Chetty Street guideline value

The current guideline value of Chetty Street in Porur village, under the Kunrathur SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Chetty Street has changed

The guideline value for Chetty Street has seen significant changes over the years. In 2002, the value was Rs 593 per sq.ft, which increased to Rs 657 per sq.ft in 2003. Following this, the value rose to Rs 1,000 per sq.ft in 2007, marking a substantial increase of 52%. The 2012 revision saw the value remain at Rs 3,600 per sq.ft, which was a decrease of 33% from the previous figure. In 2017, the value increased to Rs 2,412 per sq.ft, and by 2023, it reached Rs 3,600 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 3,960 per sq.ft, reflecting a 10% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 568%. There are no figures available for revisions in years other than those specified.

Guideline values in Porur

In Porur village, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, which is equal to the current value of Chetty Street.

• Chinna Porur Bajanai Koil Street: Rs 4,290 per sq.ft (2024)
• Chinna Porur Gandhi Street: Rs 4,290 per sq.ft (2024)
• Chinna Porur Hospital Cross Street: Rs 4,290 per sq.ft (2024)
• Chinna Porur Hospital Road: Rs 4,290 per sq.ft (2024)
• Chinna Porur Hospital Road lane: Rs 4,290 per sq.ft (2024)
• Chinna Porur Mariamman Koil Street: Rs 4,290 per sq.ft (2024)

Stamp duty and registration fee for property in Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value is Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total cost for these fees to Rs 3,56,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chetty Street?

The Sub Registrar Office that covers Chetty Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a critical role during the registration of property transactions in Porur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated accurately based on the established rates.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall financial implications of the transaction. The guideline value serves as a reference point for both parties during negotiations and finalizing the sale.

Frequently asked questions

What is the current guideline value of Chetty Street?

The current guideline value of Chetty Street is Rs 3,960 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 593 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 568% over this period.

What is the land classification for Chetty Street?

The land classification for Chetty Street is Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200, and the registration fee would be Rs 79,200, totaling Rs 3,56,400 for these fees.

Where is the Sub Registrar Office for Chetty Street located?

The Sub Registrar Office for Chetty Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.