Guideline Value for Chetty Thottam Gudisai Paguthi Street

Chetty Thottam Gudisai Paguthi Street guideline value

The current guideline value of Chetty Thottam Gudisai Paguthi Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Chetty Thottam Gudisai Paguthi Street has changed

The guideline value for Chetty Thottam Gudisai Paguthi Street has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a 100% rise. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The value then rose significantly to Rs 1,000 per sq.ft in 2023, a 49% increase, before reaching the current rate of Rs 1,100 per sq.ft in 2024, which is a 10% rise from the previous year. Notably, there are no figures available for this street in the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 120%. Each revision reflects changes based on various factors, contributing to the current valuation of the street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Chetty Thottam Gudisai Paguthi Street's current value is below this median.

• Cherian Nagar Main Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 2nd Cross Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 1st Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chetty Thottam Gudisai Paguthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the 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 Thottam Gudisai Paguthi Street?

The Sub Registrar Office that covers Chetty Thottam Gudisai Paguthi Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Tondaiarpet, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Additionally, the guideline value serves as a reference point for both buyers and sellers during negotiations. It helps in establishing a fair price for the property while complying with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Chetty Thottam Gudisai Paguthi Street?

The current guideline value of Chetty Thottam Gudisai Paguthi Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

What is the land classification for Chetty Thottam Gudisai Paguthi Street?

The land classification for Chetty Thottam Gudisai Paguthi Street is Residential Class II Type - II.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.