Guideline Value for BANGARU STREET

Bangaru Street guideline value

The current guideline value of Bangaru Street in Perambur village, under the Purasaivakkam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified under Residential Class IV Type - I.

How the guideline value of Bangaru Street has changed

The guideline value for Bangaru Street has seen several revisions over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003, marking a 10% rise. The value continued to rise significantly, reaching Rs 500 per sq.ft in 2007, an increase of 36%. However, it then jumped dramatically to Rs 2,000 per sq.ft in 2012, reflecting a 300% increase. The value saw a decrease to Rs 1,340 per sq.ft in 2017, a drop of 33%. The most recent revisions show a significant increase, with the value rising to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 555%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Bangaru Street's 2024 figure is below this median.

• Barathamatha 1st Street: Rs 3,800 per sq.ft (2024)
• Barathamatha 2nd Street: Rs 3,800 per sq.ft (2024)
• Barathamatha 3rd Street: Rs 3,800 per sq.ft (2024)
• Barathamatha Street: Rs 3,800 per sq.ft (2024)
• Barathidasan Street: Rs 2,700 per sq.ft (2024)
• Balamurugan Street: Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bangaru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Bangaru Street?

The Sub Registrar Office that covers Bangaru Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that transactions are conducted fairly and transparently.

When buying or selling property, the guideline value influences the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Bangaru Street?

The current guideline value of Bangaru Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 336 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 555% across the years.

What is the land classification of Bangaru Street?

Bangaru Street is classified under Residential Class IV Type - I, indicating its designation for residential use.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 2,200 per sq.ft would incur specific fees based on that value.