Guideline Value for Bangalow St

Bangalow St guideline value

The current guideline value of Bangalow St in Ekkaduthangal village is Rs 4,620 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Bangalow St has changed

The guideline value for Bangalow St has seen several revisions over the years. In 2012, the value was Rs 4,200 per sq.ft, which decreased to Rs 2,814 per sq.ft in 2017. Following this, the value rose significantly to Rs 4,200 per sq.ft in 2023, and then to the current rate of Rs 4,620 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for Bangalow St for the years 2002, 2003, and 2007.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO with guideline values ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value is Rs 4,620 per sq.ft, which is equal to the current guideline value of Bangalow St.

• Bangalow 3rd Street: Rs 4,620 per sq.ft (2024)
• Bangalow (West 1st St): Rs 4,620 per sq.ft (2024)
• Bangalow 2nd Street: Rs 4,620 per sq.ft (2024)
• Bangalow 1st St: Rs 4,620 per sq.ft (2024)
• Balaji Nagar Main Road: Rs 4,620 per sq.ft (2024)
• Balaji Nagar 3rd Main Rd: Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Bangalow St

For a 1,000 sq.ft plot at the current guideline value of Rs 4,620 per sq.ft, the total guideline value amounts to Rs 46,20,000. The stamp duty at 7% would be Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, leading to a total of Rs 4,15,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bangalow St?

Bangalow St is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the buyer and seller must ensure that the sale price is in accordance with the guideline value to avoid any legal issues during the registration process. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bangalow St?

The current guideline value of Bangalow St is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bangalow St has changed from Rs 4,200 per sq.ft in 2012 to Rs 2,814 per sq.ft in 2017, then increased to Rs 4,200 per sq.ft in 2023, and finally to Rs 4,620 per sq.ft in 2024.

What is the land classification for Bangalow St?

Bangalow St is classified as Residential Class II Type - I under the Chennai South Joint I SRO.

Where can I find the registration office for Bangalow St?

The registration office for Bangalow St is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for property in Bangalow St?

Stamp duty for property in Bangalow St is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be calculated on Rs 46,20,000 at a rate of 7%.