Guideline Value for KUTTI CHETTI STREET

Kutti Chetti Street guideline value

The current guideline value of Kutti Chetti Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kutti Chetti Street has changed

Over the years, the guideline value of Kutti Chetti Street has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 1,100 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 355%. However, in 2017, the value dropped to Rs 3,350 per sq.ft, a decrease of 33%. By 2023, it had risen again to Rs 5,000 per sq.ft, and the latest revision in 2024 has set it at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

In summary, from 2007 to 2024, the overall increase in the guideline value is 400%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, which is equal to the 2024 figure for Kutti Chetti Street.

• Kuttiappan Street: Rs 5,500 per sq.ft (2024)
• Kuttiappan Lane: Rs 5,500 per sq.ft (2024)
• Kuttiappan 3rd Street: Rs 5,500 per sq.ft (2024)
• Kuttiappan 2nd Street: Rs 5,500 per sq.ft (2024)
• Kuttiappan 1st Street: Rs 5,500 per sq.ft (2024)
• Kutpat Pallam 2nd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kutti Chetti Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kutti Chetti Street?

Kutti Chetti Street is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that all transactions are documented accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Kutti Chetti Street?

The current guideline value of Kutti Chetti Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 400% over the years.

What are the other streets with the same guideline value in Purasaivakkam?

Other streets in Purasaivakkam with the same 2024 guideline value of Rs 5,500 per sq.ft include Kuttiappan Street, Kuttiappan Lane, Kuttiappan 3rd Street, Kuttiappan 2nd Street, and Kuttiappan 1st Street.

What is the registration fee for properties in Kutti Chetti Street?

The registration fee for properties is calculated at 2% of the guideline value. For a property valued at Rs 55,00,000, the registration fee would be Rs 1,10,000.

Where can I find the Sub Registrar Office for Kutti Chetti Street?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find more information by visiting the provided link.