Guideline Value for New Chetty Street

New Chetty Street guideline value

The current guideline value of New Chetty Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of New Chetty Street has changed

The guideline value for New Chetty Street has seen significant changes over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision, marking a 100% increase. The latest revision in 2024 set the value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017 for New Chetty Street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing New Chetty Street's 2024 figure below that median.

• New Amaranjipuram: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 5th Cross Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that 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 New Chetty Street?

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

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

The guideline value plays a crucial role during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of New Chetty Street?

The current guideline value of New Chetty Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117% over this period.

What are the stamp duty rates in New Chetty Street?

The stamp duty rate for property transactions in New Chetty Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for New Chetty Street?

The Royapuram Sub Registrar Office is responsible for handling property registrations for New Chetty Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the median guideline value for streets in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, which is higher than the current value for New Chetty Street.