Guideline Value for BAZAAR STREET

Bazaar Street guideline value

The current guideline value of Bazaar Street in Salavakkam village, under the Salavakkam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Bazaar Street has changed

Over the years, the guideline value of Bazaar Street has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2024 revision. In the 2017 revision, the value was Rs 134 per sq.ft, marking a 33% decrease from the previous figure. The 2023 revision also maintained the value at Rs 200 per sq.ft, leading to a 49% increase from the 2017 figure. Overall, from the 2012 to the 2024 revision, the guideline value has remained constant at Rs 200 per sq.ft.

The register does not have figures for the years 2002, 2003, and 2007 for Bazaar Street. Therefore, the revisions that affect this street are only from 2012, 2017, 2023, and 2024.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft, with a median value of Rs 150 per sq.ft. Bazaar Street's 2024 guideline value of Rs 200 per sq.ft is above this median.

• Chandar Nagar Phase-4: Rs 150 per sq.ft (2024)
• Chandar Nagar Phase-I,II,III: Rs 150 per sq.ft (2024)
• Chetti Street: Rs 126 per sq.ft (2024)
• Arunthathiyarpuram: Rs 126 per sq.ft (2024)
• Chokkamman Street: Rs 150 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 126 per sq.ft (2024)

Stamp duty and registration fee for property in Bazaar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value is Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, leading to a total of Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bazaar Street?

The Bazaar Street is covered by the Salavakkam Sub Registrar Office located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Salavakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Bazaar Street?

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

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the 2012 value at Rs 200 per sq.ft, dropping to Rs 134 per sq.ft in 2017, and returning to Rs 200 per sq.ft in 2023 and 2024.

What is the land classification for Bazaar Street?

Bazaar Street falls under the Residential Class I Type - I land classification, indicating its suitability for residential development.

What are the stamp duty and registration fees for Bazaar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 2,00,000. The stamp duty would be Rs 14,000, and the registration fee would be Rs 4,000, totaling Rs 18,000.

Where is the Sub Registrar Office for Bazaar Street located?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.