Guideline Value for BAZAAR ROAD Ist LANE

BAZAAR ROAD Ist LANE guideline value

The current guideline value of BAZAAR ROAD Ist LANE is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification is Residential Class II Type - I.

How the guideline value of BAZAAR ROAD Ist LANE has changed

The guideline value for BAZAAR ROAD Ist LANE has undergone several revisions over the years. In 2007, the value was set at Rs 2,000 per sq.ft, which saw a significant increase to Rs 6,000 per sq.ft in 2012. However, in 2017, the value decreased to Rs 4,020 per sq.ft. Following this, the value rose sharply to Rs 6,000 per sq.ft in 2023, and currently stands at Rs 6,600 per sq.ft as of the 2024 revision. The changes between these revisions include a 200% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that the register does not provide figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value. The values range from Rs 4,400 to Rs 22,000 per sq.ft, with the median being Rs 6,600 per sq.ft. The guideline value of BAZAAR ROAD Ist LANE matches this median.

• Bazaar Road: Rs 12,100 per sq.ft (2024)
• Barathi Street East To West Western Side Of Aranganatha Subway: Rs 7,700 per sq.ft (2024)
• Barathidasan Street: Rs 7,700 per sq.ft (2024)
• Barathidasan East Street Appavoo Nagar: Rs 7,700 per sq.ft (2024)
• Bharathi Dasan Street(Northern Side Of Kumaran Colony 2nd Street): Rs 7,700 per sq.ft (2024)
• Balakrishna Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in BAZAAR ROAD Ist LANE

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, making the total cost of duty and fees Rs 5,94,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers BAZAAR ROAD Ist LANE?

The Sub Registrar Office that covers BAZAAR ROAD Ist LANE 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mambalam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of BAZAAR ROAD Ist LANE?

The current guideline value of BAZAAR ROAD Ist LANE is Rs 6,600 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 2,000 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for BAZAAR ROAD Ist LANE?

The land classification for BAZAAR ROAD Ist LANE is Residential Class II Type - I.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

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

How is the stamp duty calculated for properties in Mambalam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. It is important for buyers and sellers to consider this when engaging in property transactions.