Guideline Value for BAZAR STREET

Bazar Street guideline value

The current guideline value of Bazar Street in Edayanchavadi village, under the Thiruvottiyur SRO, is Rs 1,002 per sq.ft, effective from 1 July 2024. This street falls under the Commercial Class I Type - I land classification.

How the guideline value of Bazar Street has changed

The guideline value for Bazar Street has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 335 per sq.ft. In the subsequent 2023 revision, the value increased significantly to Rs 1,000 per sq.ft, marking a 199% increase from the 2017 figure. The 2024 revision has set the value at Rs 1,002 per sq.ft, reflecting no change from the previous year.

It is important to note that there are no recorded figures for Bazar Street in the years 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 199%.

Guideline values in Edayanchavadi

In Edayanchavadi, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,100 per sq.ft, with a median value of Rs 1,001 per sq.ft. Bazar Street's 2024 figure of Rs 1,002 per sq.ft is above this median.

• A.V.M. Nagar: Rs 1,001 per sq.ft (2024)
• Gangaiyamman Nagar: Rs 1,001 per sq.ft (2024)
• Green Garden: Rs 1,000 per sq.ft (2024)
• Kanaga Durga Nagar: Rs 1,001 per sq.ft (2024)
• Lakshmikathammal Nagar: Rs 1,001 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Bazar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, making the total fees together Rs 90,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bazar Street?

Bazar Street falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For further details, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Edayanchavadi. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers and sellers should be aware that the guideline value is set by the government and can change periodically based on revisions.

When purchasing property, it is essential to consider the guideline value as it directly impacts the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Bazar Street?

The current guideline value of Bazar Street is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 1,002 per sq.ft in 2024, marking a total increase of 199% over this period.

What are the other streets in Edayanchavadi with their guideline values?

Other streets in Edayanchavadi include A.V.M. Nagar, Gangaiyamman Nagar, Green Garden, Kanaga Durga Nagar, Lakshmikathammal Nagar, and Lakshmi Nagar, with 2024 guideline values ranging from Rs 1,000 to Rs 1,001 per sq.ft.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Bazar Street?

Stamp duty for properties in Bazar Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 10,02,000, the stamp duty at 7% would be Rs 70,140.