Guideline Value for Chetty Thottam

Chetty Thottam guideline value

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

How the guideline value of Chetty Thottam has changed

Over the years, the guideline value of Chetty Thottam has seen significant changes. The 2002 revision recorded a value of Rs 672 per sq.ft, which increased to Rs 754 per sq.ft in 2003, marking a 12% rise. The value further increased by 33% to Rs 1,000 per sq.ft in 2007. Following this, the 2012 revision saw a decrease of 33%, bringing the value back to Rs 4,000 per sq.ft. The 2017 revision then raised the value to Rs 2,680 per sq.ft, which was a 49% increase from the previous figure. The 2023 revision set the value at Rs 4,000 per sq.ft, and the latest 2024 revision has increased it to Rs 4,400 per sq.ft, reflecting a 10% rise.

There are no figures available for the years between these revisions for Chetty Thottam. Overall, from 2002 to 2024, the guideline value has increased by 555%.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with guideline values 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, indicating that the guideline value for Chetty Thottam is below this median.

• Chetty Thoppu street: 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 Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty is charged at 7%, resulting in Rs 3,08,000, while the registration fee at 2% amounts to Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chetty Thottam?

The Sub Registrar Office that covers Chetty Thottam is 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 a crucial factor in property transactions in Ayanavaram. It serves as a reference point for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees applicable to the transaction.

When registering a property, the buyer must pay stamp duty based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chetty Thottam?

The current guideline value of Chetty Thottam 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 seen several revisions, increasing from Rs 672 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 555%.

What is the land classification for Chetty Thottam?

Chetty Thottam is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the AnnaNagar Sub Registrar Office?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Chetty Thottam?

Stamp duty for properties in Chetty Thottam 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 guideline value would incur a total stamp duty and registration fee of Rs 3,96,000.