Guideline Value for Bangaru Street

Bangaru Street guideline value

The current guideline value of Bangaru Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Mixed Type - II land.

How the guideline value of Bangaru Street has changed

The guideline value for Bangaru Street has undergone several revisions over the years. In 2002, the value was Rs 851 per sq.ft, which increased to Rs 934 per sq.ft in 2003, marking a 10% rise. The value saw a significant increase to Rs 1,560 per sq.ft in 2007, resulting in a 67% change. Following this, the value jumped dramatically to Rs 7,000 per sq.ft in 2012, reflecting a 349% increase. However, it decreased to Rs 4,690 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 7,000 per sq.ft in 2023, before reaching the current figure of Rs 7,700 per sq.ft in 2024, which is a 10% increase from the previous year.

Throughout these revisions, the register does not have figures for any years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 805%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with guideline values for 2024 ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, making the 2024 guideline value of Bangaru Street above this median.

• Bandi Venkatesan Street: Rs 8,800 per sq.ft (2024)
• Bandi Venkatesan 1st Street & Lane: Rs 8,800 per sq.ft (2024)
• Bandala Venugopal Street: Rs 6,600 per sq.ft (2024)
• Balamuthu Street: Rs 6,600 per sq.ft (2024)
• Barbar Agan Street: Rs 5,500 per sq.ft (2024)
• Bells Road (Jagajivanram Road): Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bangaru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bangaru Street?

The Sub Registrar Office covering Bangaru Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Triplicane. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buyers or sellers engage in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency in the process and helps both parties understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Bangaru Street?

The current guideline value of Bangaru Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 851 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 805% over this period.

What is the land classification for Bangaru Street?

Bangaru Street is classified as Mixed Type - II land under the Triplicane SRO.

Where can I find the Triplicane Sub Registrar Office?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 6,93,000.