Guideline Value for Chetty Street

Chetty Street guideline value

The current guideline value of Chetty Street, located in Sriperumbudur A village under the Sriperumpudur SRO, is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - III.

How the guideline value of Chetty Street has changed

In the 2017 revision, the guideline value for Chetty Street was Rs 1,340 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded the value at Rs 2,000 per sq.ft. The 2024 revision has also set the value at Rs 2,000 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 49% as well, reflecting the same value in the last two revisions.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft, with a median value of Rs 700 per sq.ft. Chetty Street's 2024 figure of Rs 2,000 per sq.ft is above this median.

• Chennai Main Road (Ward6): Rs 2,500 per sq.ft (2024)
• Chennai Bangalore Road (Ward 13): Rs 2,500 per sq.ft (2024)
• Chennai Bangalore NH (Ward11): Rs 2,500 per sq.ft (2024)
• Chellaperumal Nagar Ist Street: Rs 700 per sq.ft (2024)
• Chellaperumal Nagar Ist Cross Street: Rs 700 per sq.ft (2024)
• Chellaperumal Nagar IInd Street: Rs 700 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 2,000 per sq.ft, the guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, totaling Rs 1,80,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Sriperumbudur A. It serves as the minimum value for which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value will be used to calculate the applicable duties and fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which ensures that the transaction is appropriately valued for legal purposes.

Frequently asked questions

What is the current guideline value of Chetty Street?

The current guideline value of Chetty Street is Rs 2,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in both 2023 and 2024, reflecting a 49% increase overall during this period.

What is the land classification for Chetty Street?

Chetty Street is classified as Commercial Class I Type - III, which indicates its suitability for commercial activities.

Where is the Sub Registrar Office for Chetty Street located?

The Sub Registrar Office for Chetty Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

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 would incur a total of Rs 1,80,000 in duties and fees.