Guideline Value for BOUND SALAI

Bound Salai guideline value

The current guideline value of Bound Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Bound Salai has changed

Over the years, the guideline value of Bound Salai has seen several revisions. In 2007, the guideline value was Rs 800 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a significant rise of 150%. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then increased substantially to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Perungudi

In Perungudi village, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which means that the 2024 guideline value of Bound Salai is below this median.

• Bharathy Avenue: Rs 2,800 per sq.ft (2024)
• Bharathiyar Street: Rs 3,300 per sq.ft (2024)
• Bharathidasan Street: Rs 2,800 per sq.ft (2024)
• Cheran Chenkuttuvan Street: Rs 3,300 per sq.ft (2024)
• Church Street & Road: Rs 6,100 per sq.ft (2024)
• Balagangatharar Thilakar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bound Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bound Salai?

The Sub Registrar Office that covers Bound Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perungudi, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the purchase or sale of a property.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bound Salai?

The current guideline value of Bound Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value of Bound Salai changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the median guideline value in Perungudi?

The median guideline value in Perungudi is Rs 3,300 per sq.ft for the year 2024.

What are the stamp duty rates for property in Bound Salai?

The stamp duty for property in Bound Salai is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.