Guideline Value for Guruvappa chetty street

Guruvappa chetty street guideline value

The current guideline value of Guruvappa chetty street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village under the Periamet SRO, and it is classified as Residential Special Type - II.

How the guideline value of Guruvappa chetty street has changed

The guideline value for Guruvappa chetty street has undergone several revisions over the years. In 2007, the guideline value was Rs 2,500 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012. However, in 2017, it decreased to Rs 3,685 per sq.ft before rising again to Rs 5,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 140%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Chindadripet

In Chindadripet village, there are 98 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft, with a median value of Rs 3,300 per sq.ft. Guruvappa chetty street's 2024 guideline value is above this median.

• Jothima Nagar(Jail warden): Rs 2,600 per sq.ft (2024)
• Fire Station officialsResidence: Rs 2,600 per sq.ft (2024)
• Kalavai chetty street: Rs 6,000 per sq.ft (2024)
• East coovam road / Street: Rs 3,800 per sq.ft (2024)
• Dr.Govindan street: Rs 4,400 per sq.ft (2024)
• Dharmaraja koil street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Guruvappa chetty street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total fees together Rs 5,40,000. 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 Guruvappa chetty street?

The Sub Registrar Office that covers Guruvappa chetty street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Chindadripet. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to determine the applicable fees. This ensures that the transaction is recorded accurately and that the necessary taxes are paid based on the established guideline values.

Frequently asked questions

What is the current guideline value of Guruvappa chetty street?

The current guideline value of Guruvappa chetty street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 2,500 per sq.ft to Rs 6,000 per sq.ft in 2024, marking an overall increase of 140% over this period.

What is the land classification for Guruvappa chetty street?

Guruvappa chetty street is classified as Residential Special Type - II, which influences its guideline value and usage.

Where can I find the Sub Registrar Office for Guruvappa chetty street?

The Sub Registrar Office for Guruvappa chetty street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Guruvappa chetty street?

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 60,00,000 would incur a stamp duty of Rs 4,20,000 at 7%.