Guideline Value for BOUND STREET

Bound Street guideline value

The current guideline value of Bound Street in Chemmancheri village, under the Neelankarai SRO, is Rs 1,700 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 Bound Street has changed

The guideline value for Bound Street has undergone several revisions over the years. In the 2003 revision, the value was Rs 140 per sq.ft, which increased to Rs 200 per sq.ft in 2007. Following this, the value saw a significant rise to Rs 1,500 per sq.ft in 2012, before dropping to Rs 1,005 per sq.ft in 2017. The 2023 revision marked another increase to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,700 per sq.ft. Notably, there is no figure available for this street in the 2002 revision.

From 2003 to 2024, the guideline value for Bound Street has increased by a total of 1114%. The changes between the revisions include a 43% increase from 2003 to 2007, a 650% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 13% increase from 2023 to 2024.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value is Rs 1,700 per sq.ft, which is equal to the current guideline value of Bound Street.

• Bhavan Dass Garden: Rs 1,700 per sq.ft (2024)
• Chandra / Jothilakshmi Garden: Rs 1,700 per sq.ft (2024)
• Chelliamman Koil Street: Rs 1,700 per sq.ft (2024)
• Chemmanchery Estate: Rs 3,300 per sq.ft (2024)
• Chemmenchery Thope: Rs 1,700 per sq.ft (2024)
• Bharathi Nagar: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bound Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, these fees would total Rs 1,53,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bound Street?

The Sub Registrar Office covering Bound Street 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 Chemmancheri

The guideline value is a crucial factor when buying or selling property in Chemmancheri. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Bound Street?

The current guideline value of Bound Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 140 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification of Bound Street?

Bound Street is classified as Residential Class IV Type - I according to the land classification in Chemmancheri village.

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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 1,53,000.