Guideline Value for B.N.REDDY ROAD 2nd STREET

B.N.REDDY ROAD 2nd STREET guideline value

The current guideline value of B.N.REDDY ROAD 2nd STREET is Rs 9,400 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 I Type - I.

How the guideline value of B.N.REDDY ROAD 2nd STREET has changed

The guideline value for B.N.REDDY ROAD 2nd STREET has experienced several revisions over the years. In 2003, the value was Rs 2,321 per sq.ft, which increased to Rs 3,000 per sq.ft in 2007. Following this, the value rose significantly to Rs 8,500 per sq.ft in 2012, but then decreased to Rs 5,695 per sq.ft in 2017. The value saw a substantial increase to Rs 8,500 per sq.ft in 2023, and finally, it reached Rs 9,400 per sq.ft in 2024, marking an increase of 11% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 305%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. B.N.REDDY ROAD 2nd STREET's 2024 guideline value is below this median.

• B.N.REDDY ROAD 2nd LANE: Rs 5,500 per sq.ft (2024)
• B.N.REDDY ROAD 3rd LANE: Rs 5,500 per sq.ft (2024)
• B.N.REDDY ROAD 1st STREET: Rs 9,400 per sq.ft (2024)
• B.N.REDDY ROAD 3rd STREET: Rs 9,400 per sq.ft (2024)
• B.N.REDDY ROAD 1st LANE: Rs 5,500 per sq.ft (2024)
• Boag Road: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in B.N.REDDY ROAD 2nd STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 9,400 per sq.ft, the total guideline value would be Rs 94,00,000. The stamp duty at 7% would amount to Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, bringing the total to Rs 8,46,000. 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 detailed calculations.

Which Sub Registrar Office covers B.N.REDDY ROAD 2nd STREET?

The B.N.REDDY ROAD 2nd STREET is covered by the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of B.N.REDDY ROAD 2nd STREET?

The current guideline value of B.N.REDDY ROAD 2nd STREET is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,321 per sq.ft in 2003 to Rs 9,400 per sq.ft in 2024, showing an overall increase of 305% across the revisions.

What is the stamp duty rate applicable in Tnagar?

The stamp duty rate applicable in Tnagar 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 2nd STREET?

The Sub Registrar Office covering B.N.REDDY ROAD 2nd STREET is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

What is the median guideline value for streets in Tnagar?

The median guideline value for streets in Tnagar is Rs 11,000 per sq.ft, while B.N.REDDY ROAD 2nd STREET's value is below this median at Rs 9,400 per sq.ft.