Guideline Value for B.B Innaiyya Naidu Street

B.B Innaiyya Naidu Street guideline value

The current guideline value of B.B Innaiyya Naidu Street is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Molachoor village under the Sunguvarchattram SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of B.B Innaiyya Naidu Street has changed

The guideline value for B.B Innaiyya Naidu Street has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 500 per sq.ft, the same as in 2023. Prior to that, the 2017 revision set the value at Rs 335 per sq.ft, marking a 49% increase to the 2023 figure. The 2012 revision also recorded a value of Rs 500 per sq.ft, which indicates a decrease of 33% from the 2017 revision.

Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 500 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value is Rs 600 per sq.ft, placing B.B Innaiyya Naidu Street's 2024 figure below this median.

• Benjamin Naidu Street: Rs 800 per sq.ft (2024)
• Bhanu Nagar: Rs 460 per sq.ft (2024)
• Banu Nagar Phase-II: Rs 460 per sq.ft (2024)
• Balas Garden: Rs 600 per sq.ft (2024)
• Bharathidhasan Street: Rs 600 per sq.ft (2024)
• Bharathiyar Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in B.B Innaiyya Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. 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 B.B Innaiyya Naidu Street?

The Sub Registrar Office that covers B.B Innaiyya Naidu Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Molachoor, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the true value of the property. This process aids in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of B.B Innaiyya Naidu Street?

The current guideline value of B.B Innaiyya Naidu Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2012 to 2024, with a previous figure of Rs 335 per sq.ft in 2017. The value saw a 49% increase from 2017 to 2023, but no change from 2023 to 2024.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registration for B.B Innaiyya Naidu Street?

The Sunguvarchattram Sub Registrar Office handles property registration for B.B Innaiyya Naidu Street, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

What is the land classification for B.B Innaiyya Naidu Street?

B.B Innaiyya Naidu Street falls under the Residential Class I Type - I land classification, indicating its suitability for residential development.