Guideline Value for BASULLAH ROAD

Basullah Road guideline value

The current guideline value of Basullah Road is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - III.

How the guideline value of Basullah Road has changed

The guideline value for Basullah Road has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 2,894 per sq.ft. This figure rose to Rs 3,212 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 5,500 per sq.ft in 2007, which was a substantial increase of 71%. However, from 2007 to 2012, the value decreased to Rs 16,000 per sq.ft, a drop of 33%. The 2017 revision saw the value rise again to Rs 10,720 per sq.ft, representing a 49% increase. In 2023, the value was Rs 16,000 per sq.ft, and it increased to Rs 17,600 per sq.ft in the 2024 revision, reflecting a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 508%. There are no figures available for the revisions in the years not listed 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. The guideline value of Basullah Road is above this median.

• Basudev Street: Rs 13,200 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 Basullah Road

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value would be Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, totaling Rs 15,84,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Basullah Road?

The Sub Registrar Office that covers Basullah Road 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 critical factor in property transactions in Tnagar. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value serves as a benchmark for the transaction. It helps in assessing the appropriate fees and ensures that both parties are aware of the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Basullah Road?

The current guideline value of Basullah Road is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,894 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, reflecting an overall increase of 508% over the years.

What is the classification of land on Basullah Road?

Basullah Road is classified as Commercial Special Type - III under the Thiyagaraya nagar SRO.

What are the stamp duty and registration fees for property in Basullah Road?

For a 1,000 sq.ft plot, the total guideline value would be Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, totaling Rs 15,84,000.

Where is the Sub Registrar Office for Basullah Road located?

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