Guideline Value for BASUDEV STREET

Basudev Street guideline value

The current guideline value of Basudev Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Mixed Special Type - II.

How the guideline value of Basudev Street has changed

The guideline value for Basudev Street has seen significant changes over the years. In 2003, the value was Rs 1,400 per sq.ft, which increased to Rs 3,000 per sq.ft in 2007, marking a 114% rise. The value then surged to Rs 12,000 per sq.ft in 2012, reflecting a 300% increase from the previous revision. However, it decreased to Rs 8,040 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 12,000 per sq.ft in 2023, followed by a final increase to Rs 13,200 per sq.ft in 2024, representing a 10% change from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 843%. It is important to note that there is no figure available for Basudev Street in the 2002 revision.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with the 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, placing Basudev Street's 2024 guideline value above this median.

• Basullah Road: Rs 17,600 per sq.ft (2024)
• Balu Mudali Street: Rs 5,500 per sq.ft (2024)
• Bhagavantham Gupta Street: Rs 8,300 per sq.ft (2024)
• Balamuthukrishna Road: Rs 17,600 per sq.ft (2024)
• Balamandir Road: Rs 5,500 per sq.ft (2024)
• Bharathi Nagar 2nd Lane: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Basudev Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. 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 Basudev Street?

The Sub Registrar Office that covers Basudev Street is 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 property transactions in Tnagar. It serves as the basis for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning for their transactions.

When registering a property, the guideline value helps determine the official value of the property, which is essential for legal documentation. It is important for both parties to understand that the guideline value may differ from the sale price, and the higher amount will be used for calculating the applicable duties.

Frequently asked questions

What is the current guideline value of Basudev Street?

The current guideline value of Basudev Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,400 per sq.ft in 2003 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 843% over the years.

What is the land classification of Basudev Street?

Basudev Street is classified as Mixed Special Type - II under the current land classification.

Where can I find the Sub Registrar Office for Basudev Street?

The Sub Registrar Office for Basudev Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 1,32,00,000, leading to specific fees based on that value.