Guideline Value for Bangalore Main Road

Bangalore Main Road guideline value

The current guideline value of Bangalore Main Road in Siruvadal village is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Sunguvarchattram SRO and is classified as Residential Special Type - I.

How the guideline value of Bangalore Main Road has changed

Over the years, the guideline value of Bangalore Main Road has seen several revisions. The register shows the following figures: in 2012, the value was Rs 500 per sq.ft; in 2017, it decreased to Rs 335 per sq.ft; and in 2023, it returned to Rs 500 per sq.ft. The current revision for 2024 maintains this value at Rs 500 per sq.ft, indicating no change from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register.

When looking at the changes between revisions, from 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, comparing 2012 to 2024, the guideline value remains unchanged at Rs 500 per sq.ft.

Guideline values in Siruvadal

In Siruvadal, three streets under the Sunguvarchattram SRO have a guideline value for 2024 ranging from Rs 200 to Rs 500 per sq.ft, with a median value of Rs 250 per sq.ft. The Bangalore Main Road's 2024 figure is above this median.

• Erikarai Street: Rs 250 per sq.ft (2024)
• Pillai Kovil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Bangalore Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees together to Rs 45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bangalore Main Road?

The Bangalore Main Road is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration of the property.

Frequently asked questions

What is the current guideline value of Bangalore Main Road?

The current guideline value of Bangalore Main Road is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the value in 2012 at Rs 500 per sq.ft, decreasing to Rs 335 per sq.ft in 2017, and returning to Rs 500 per sq.ft in 2023. The current value remains the same as the previous year.

What is the land classification for Bangalore Main Road?

Bangalore Main Road is classified as Residential Special Type - I under the Sunguvarchattram SRO.

What are the other streets in Siruvadal?

Other streets in Siruvadal include Erikarai Street, which has a guideline value of Rs 250 per sq.ft, and Pillai Kovil Street, with a value of Rs 200 per sq.ft for 2024.

How is stamp duty calculated for property in Bangalore Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at 7%, plus a registration fee of Rs 10,000 at 2%, totaling Rs 45,000.