Guideline Value for Bangalore Road

Bangalore Road guideline value

The current guideline value of Bangalore Road is Rs 2,500 per sq.ft, effective from 1 July 2024. This road is located in Sriperumbudur A village, under the Sriperumpudur SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Bangalore Road has changed

The guideline value for Bangalore Road has undergone several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 2,500 per sq.ft, which is the same as the 2023 revision. In the 2017 revision, the guideline value was Rs 1,675 per sq.ft, marking a significant increase of 49% from 2017 to 2023 and maintaining the same value in 2024.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Thus, the changes in guideline value from 2017 to 2024 reflect a consistent increase of 49% overall, with no changes recorded in the intervening years.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Bangalore Road is above this median.

• Banakara Street: Rs 1,000 per sq.ft (2024)
• Balaji Street: Rs 700 per sq.ft (2024)
• Balaji Nagar: Rs 700 per sq.ft (2024)
• Balaji Garden: Rs 700 per sq.ft (2024)
• Bharathi Nagar: Rs 1,200 per sq.ft (2024)
• Bakthavatchalam Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Bangalore Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total cost to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Bangalore Road?

The Sub Registrar Office that covers Bangalore Road is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Sriperumbudur A, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to assess the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Bangalore Road?

The current guideline value of Bangalore Road is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 2,500 per sq.ft from 2023 to 2024. It increased from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase over that period.

What are the stamp duty and registration fees for Bangalore Road?

The stamp duty for a property valued at Rs 25,00,000 would be Rs 1,75,000, and the registration fee would be Rs 50,000, totaling Rs 2,25,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Sriperumbudur A?

The Sriperumpudur Sub Registrar Office handles property registrations in Sriperumbudur A. It is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it sets the minimum value for property registration and determines the applicable stamp duty and registration fees. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during property transactions.