Guideline Value for Kalavai chetty street

Kalavai chetty street guideline value

The current guideline value of Kalavai 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 falls under the Residential Special Type - II land classification.

How the guideline value of Kalavai chetty street has changed

Over the years, the guideline value of Kalavai chetty street has seen several revisions. The 2007 revision recorded a value of Rs 1,200 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in the 2012 revision, marking a rise of 358%. However, the 2017 revision saw a decrease to Rs 3,685 per sq.ft, a drop of 33%. In the 2023 revision, the value increased to Rs 5,500 per sq.ft, and the most recent revision in 2024 has set it at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Chindadripet

In Chindadripet, 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. The median guideline value for these streets is Rs 3,300 per sq.ft, positioning Kalavai chetty street's 2024 figure above that median.

• Jothima Nagar(Jail warden): Rs 2,600 per sq.ft (2024)
• Ketty Ponnan street: Rs 3,300 per sq.ft (2024)
• Guruvappa chetty street: Rs 6,000 per sq.ft (2024)
• Koil street: Rs 3,300 per sq.ft (2024)
• Kovilur Amman Koil 1st lane: Rs 3,300 per sq.ft (2024)
• Kovilur Amman Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kalavai 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalavai chetty street?

The Sub Registrar Office that covers Kalavai 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 is a crucial factor when registering property in Chindadripet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and taxes are calculated accurately.

When buying or selling property, the guideline value helps in assessing the transaction value for stamp duty purposes. Buyers should be aware that the stamp duty is charged on either the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kalavai chetty street?

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

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 1,200 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, marking an overall increase of 400%.

What is the land classification for Kalavai chetty street?

Kalavai chetty street is classified under Residential Special Type - II.

What are the stamp duty rates for properties on Kalavai chetty street?

The stamp duty for properties on Kalavai chetty street is 7% of the guideline value, with a registration fee of 2%.

Where is the Sub Registrar Office for Kalavai chetty street located?

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