Guideline Value for BAZAAR STREET

Bazaar Street guideline value

The current guideline value of Bazaar Street in Walajabad village, under the Walajabad SRO, is Rs 750 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Bazaar Street has changed

The guideline value for Bazaar Street has seen several revisions over the years. In the 2007 revision, the value was Rs 100 per sq.ft, which increased significantly to Rs 750 per sq.ft in the 2012 revision. However, the value dropped to Rs 502 per sq.ft in the 2017 revision, before rising to Rs 750 per sq.ft in both the 2023 and 2024 revisions. Notably, the register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a substantial increase of 49%, while the value remained unchanged from 2023 to 2024. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 650%.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median value is Rs 750 per sq.ft, which aligns with the current guideline value of Bazaar Street.

• Beemaraya Mudhaliar Stret: Rs 750 per sq.ft (2024)
• Barathi Nagar: Rs 750 per sq.ft (2024)
• Bhagavathimman Koil St: Rs 750 per sq.ft (2024)
• Balaji Nagar @ Sunshaine Nagar: Rs 500 per sq.ft (2024)
• Bharathi Nagar: Rs 750 per sq.ft (2024)
• Balaji Nagar: Rs 750 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 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, making the total charges Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bazaar Street?

The Bazaar Street is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Walajabad. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should always refer to the latest guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Bazaar Street?

The current guideline value of Bazaar Street is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, then decreased to Rs 502 per sq.ft in 2017, and returned to Rs 750 per sq.ft in both 2023 and 2024.

What is the land classification of Bazaar Street?

Bazaar Street is classified as Residential Class IV Type - I, which indicates its suitability for residential purposes.

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

For a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500 and the registration fee would be Rs 15,000, totaling Rs 67,500.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.