Guideline Value for Chetty Thoppu street

Chetty Thoppu street guideline value

The current guideline value of Chetty Thoppu street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Residential Class II Type - I.

How the guideline value of Chetty Thoppu street has changed

The guideline value for Chetty Thoppu street has undergone several revisions over the years. In 2002, the guideline value was Rs 672 per sq.ft. This increased to Rs 754 per sq.ft in 2003, marking a 12% rise. The value then saw a significant increase to Rs 1,000 per sq.ft in 2007, a 33% change. Following this, the value surged to Rs 4,000 per sq.ft in 2012, reflecting a remarkable 300% increase. However, from 2012 to 2017, the value dropped to Rs 2,680 per sq.ft, a decrease of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and finally, in 2024, it stands at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 555%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO carrying 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 Thoppu street's 2024 figure below that median.

• Chetty Thottam: Rs 4,400 per sq.ft (2024)
• Chetty Street Lane: Rs 5,500 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 Thoppu street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chetty Thoppu street?

The Chetty Thoppu street is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Ayanavaram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, both the buyer and seller must consider the guideline value to determine the applicable fees. This value helps in ensuring transparency and compliance with the local regulations during the property registration process.

Frequently asked questions

What is the current guideline value of Chetty Thoppu street?

The current guideline value of Chetty Thoppu street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 672 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 555%.

What is the registration office for Chetty Thoppu street?

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

How is stamp duty calculated for properties in Chetty Thoppu street?

Stamp duty 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 3,96,000 in fees.

What is the land classification for Chetty Thoppu street?

Chetty Thoppu street is classified as Residential Class II Type - I under the Tamil Nadu land classification system.