Guideline Value for Chetty Street

Chetty Street guideline value

The current guideline value of Chetty Street in Satthankadu village, under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Chetty Street has changed

The guideline value for Chetty Street has seen several revisions over the years. In 2002, the value was Rs 359 per sq.ft, which increased to Rs 415 per sq.ft in 2003. The following revisions were significant, with the 2007 figure rising to Rs 800 per sq.ft, and then a substantial jump to Rs 3,100 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,077 per sq.ft in 2017. The values then rose again, reaching Rs 3,100 per sq.ft in 2023, and finally the current rate of Rs 3,400 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 847%. Each revision reflects the changing landscape of property values in the area, with no figures available for years outside those listed.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,400 per sq.ft, which is equal to the current guideline value of Chetty Street.

• Chinna Mettu Palayam (Corner Plots): Rs 3,800 per sq.ft (2024)
• Chinna mettu palayam street: Rs 3,400 per sq.ft (2024)
• Chairman Varadharajapuram: Rs 3,400 per sq.ft (2024)
• Colony Street: Rs 3,400 per sq.ft (2024)
• Damodaran Street: Rs 3,400 per sq.ft (2024)
• Basin Road: Rs 2,200 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 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total to Rs 3,06,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chetty Street?

The Sub Registrar Office that covers Chetty Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Satthankadu. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must reference the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared to the sale price, and duty is charged on the higher of the two. This ensures that the proper fees are collected based on the established values in the area.

Frequently asked questions

What is the current guideline value of Chetty Street?

The current guideline value of Chetty Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 359 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, which is an overall increase of 847%.

What is the land classification for Chetty Street?

The land classification for Chetty Street is Residential Special Type - III.

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

The Sub Registrar Office for Chetty Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Chetty Street?

Stamp duty for properties in Chetty Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a total guideline value of Rs 34,00,000, leading to a total stamp duty and registration fee of Rs 3,06,000.