Guideline Value for BASHYAM IYENGAR STREET

Bashyam Iyengar Street guideline value

The current guideline value of Bashyam Iyengar Street, located in Saidapet village, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Bashyam Iyengar Street has changed

The guideline value for Bashyam Iyengar Street has undergone several revisions since 2002. The values have changed from Rs 393 per sq.ft in 2002 to Rs 493 per sq.ft in 2003, marking an increase of 25%. In 2007, the value rose significantly to Rs 800 per sq.ft, reflecting a 62% increase. The 2012 revision saw the value rise to Rs 3,000 per sq.ft, a substantial increase of 275%. However, the value decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The next revision in 2023 brought the guideline value back up to Rs 3,000 per sq.ft, followed by the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 740%. There are no revisions for Bashyam Iyengar Street in the years not listed in the register.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Bashyam Iyengar Street's 2024 figure below that median.

• Bazaar Road: Rs 8,800 per sq.ft (2024)
• Bazaar Salai: Rs 8,800 per sq.ft (2024)
• Bharathiyar Street (Abith Colony): Rs 4,400 per sq.ft (2024)
• Bharathiyar Street (Hospital Road): Rs 4,400 per sq.ft (2024)
• B.K. Maistry Street: Rs 4,400 per sq.ft (2024)
• Brahmin Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bashyam Iyengar Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bashyam Iyengar Street?

The Sub Registrar Office that covers Bashyam Iyengar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Saidapet. It serves as a reference point for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately according to government regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bashyam Iyengar Street?

The current guideline value of Bashyam Iyengar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 393 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 740% over the years.

What are the other streets in Saidapet with their guideline values?

Other streets in Saidapet include Bazaar Road and Bazaar Salai, both at Rs 8,800 per sq.ft, and Bharathiyar Street (Abith Colony) and (Hospital Road) at Rs 4,400 per sq.ft, among others.

What is the stamp duty rate for property in Bashyam Iyengar Street?

The stamp duty rate for property transactions in Bashyam Iyengar Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bashyam Iyengar Street?

The Sub Registrar Office for Bashyam Iyengar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.