Guideline Value for B.N.REDDY ROAD 1st LANE

B.N.REDDY ROAD 1st LANE guideline value

The current guideline value of B.N.REDDY ROAD 1st LANE is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO and is classified as Residential Class III Type - II.

How the guideline value of B.N.REDDY ROAD 1st LANE has changed

The guideline value for B.N.REDDY ROAD 1st LANE has undergone several revisions over the years. In 2007, the guideline value was Rs 3,000 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, representing a 67% increase. However, it then decreased to Rs 3,350 per sq.ft in 2017, marking a 33% drop. The value rose significantly to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft in the 2024 revision, reflecting a 10% 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 83%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing B.N.REDDY ROAD 1st LANE below that median.

• B.N.Reddy Road: Rs 14,300 per sq.ft (2024)
• B.N.REDDY ROAD 1st STREET: Rs 9,400 per sq.ft (2024)
• B.N.REDDY ROAD 2nd LANE: Rs 5,500 per sq.ft (2024)
• B.N.REDDY ROAD 2nd STREET: Rs 9,400 per sq.ft (2024)
• B.N.REDDY ROAD 3rd LANE: Rs 5,500 per sq.ft (2024)
• B.N.REDDY ROAD 3rd STREET: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in B.N.REDDY ROAD 1st LANE

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers B.N.REDDY ROAD 1st LANE?

The Sub Registrar Office that covers B.N.REDDY ROAD 1st LANE is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tnagar. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of B.N.REDDY ROAD 1st LANE?

The current guideline value of B.N.REDDY ROAD 1st LANE 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 3,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What is the stamp duty rate for properties in B.N.REDDY ROAD 1st LANE?

The stamp duty rate for properties in B.N.REDDY ROAD 1st LANE is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for B.N.REDDY ROAD 1st LANE?

The Sub Registrar Office for B.N.REDDY ROAD 1st LANE is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

What is the median guideline value in Tnagar?

The median guideline value in Tnagar is Rs 11,000 per sq.ft, with B.N.REDDY ROAD 1st LANE being below this median at Rs 5,500 per sq.ft.