Guideline Value for Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop)

Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop) guideline value

The current guideline value for Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop) is Rs 2,000 per sq.ft, effective from 1 July 2024. This street is located in Thirumangalam village, under the Sunguvarchattram SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop) has changed

The guideline value for this street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft, marking a 33% decline. However, by 2023, the value was back to Rs 2,000 per sq.ft, maintaining the same rate through to the 2024 revision, which also stands at Rs 2,000 per sq.ft. Notably, there were no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a significant increase of 49%. Overall, when comparing the 2012 revision to the current 2024 rate, there has been no change, maintaining the guideline value at Rs 2,000 per sq.ft.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 605 per sq.ft, placing Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop) above this median.

• Bharathiyar IInd Street: Rs 300 per sq.ft (2024)
• Bharathiyar Ist Street: Rs 300 per sq.ft (2024)
• Bajanai Kovil Second Street: Rs 605 per sq.ft (2024)
• Bajanai Kovil First Street: Rs 605 per sq.ft (2024)
• Arunthathiyar Colony: Rs 605 per sq.ft (2024)
• Eri Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop)

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total cost for these fees to Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop)?

The Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop) falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office. The office is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Thirumangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value for Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop)?

The current guideline value for Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop) is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023 and 2024. Overall, there has been no change from 2012 to 2024.

What is the land classification for this street?

Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop) is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for this area?

The registration office for Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop) is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000 at a rate of 7%.