Guideline Value for BAWA SALAI

Bawa Salai guideline value

The current guideline value of Bawa Salai is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO, classified as Residential Class III Type - III.

How the guideline value of Bawa Salai has changed

Over the years, the guideline value of Bawa Salai has seen significant changes. The 2002 revision set the value at Rs 1,598 per sq.ft, which increased to Rs 1,775 per sq.ft in 2003, marking an 11% rise. By 2007, the value jumped to Rs 1,950 per sq.ft, reflecting a 10% increase. The 2012 revision brought a substantial increase to Rs 8,000 per sq.ft, a 310% rise from the 2007 figure. The current value of Rs 8,800 per sq.ft in 2024 represents a 10% increase from the 2012 revision.

It is important to note that there are no figures for the years 2017 and 2023 for this street. Overall, the guideline value has increased by 451% from the 2002 figure to the current value in 2024.

Guideline values in Mylapore

Bawa Salai's 2024 guideline value of Rs 8,800 per sq.ft is equal to the median value of Rs 8,800 per sq.ft among the 883 streets in Mylapore under the Mylapore SRO, which range from Rs 3,300 to Rs 25,800 per sq.ft.

• Batsha Garden: Rs 4,900 per sq.ft (2024)
• Bazaar Lane: Rs 4,900 per sq.ft (2024)
• Batcha Garden I Lane: Rs 3,300 per sq.ft (2024)
• Batcha Garden II Lane: Rs 3,300 per sq.ft (2024)
• Bazaar Road: Rs 8,200 per sq.ft (2024)
• Bazaar Road 1st Lane: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Bawa Salai

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. It is important to note that 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 Bawa Salai?

The Sub Registrar Office that covers Bawa Salai is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mylapore. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bawa Salai?

The current guideline value of Bawa Salai is Rs 8,800 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 1,598 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 451%.

Which office handles registrations for Bawa Salai?

The Mylapore Sub Registrar Office handles registrations for Bawa Salai, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What are the stamp duty and registration fees for properties in Bawa Salai?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 88,00,000, the total fees would amount to Rs 7,92,000.

What is the land classification for Bawa Salai?

Bawa Salai is classified as Residential Class III Type - III under the local land classification system.