Guideline Value for Basha Sahib 1st lane

Basha Sahib 1st lane guideline value

The current guideline value for Basha Sahib 1st lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Basha Sahib 1st lane has changed

Over the years, the guideline value of Basha Sahib 1st lane has seen significant changes. The register shows that in 2002, the guideline value was Rs 508 per sq.ft. This figure increased to Rs 560 per sq.ft in 2003, marking a 10% rise. By 2007, the value jumped to Rs 1,000 per sq.ft, reflecting a substantial increase of 79%. The value then surged to Rs 6,500 per sq.ft in 2012, representing a remarkable 550% increase from 2007. However, it decreased to Rs 4,355 per sq.ft in 2017, indicating a decline of 33%.

In the next revision, the guideline value rose to Rs 6,500 per sq.ft in 2023, which was a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year. It is important to note that there are no figures available for the years not mentioned in the register for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, which is equal to the current figure for Basha Sahib 1st lane.

• Basha Sahib 2nd lane: Rs 7,100 per sq.ft (2024)
• Basha Sahib IIIrd Lane: Rs 3,900 per sq.ft (2024)
• Batcha Sahib street: Rs 7,100 per sq.ft (2024)
• Bank Street: Rs 11,000 per sq.ft (2024)
• Bandala Dhanammal Road: Rs 11,000 per sq.ft (2024)
• Bandala chitti Babu NaiduStreet: Rs 13,500 per sq.ft (2024)

Stamp duty and registration fee for property in Basha Sahib 1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty, charged at 7%, would be Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000. Together, the total cost for these fees would be Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Basha Sahib 1st lane?

The Sub Registrar Office that covers Basha Sahib 1st lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees when buying or selling property. Both the buyer and seller must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable fees. It is essential for buyers to be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Basha Sahib 1st lane?

The current guideline value of Basha Sahib 1st lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 508 per sq.ft to Rs 7,100 per sq.ft in 2024, which is an overall increase of 1298%.

What are the stamp duty and registration fees for properties in Basha Sahib 1st lane?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 6,39,000.

Which office handles property registrations in Basha Sahib 1st lane?

The Periamet Sub Registrar Office handles property registrations for Basha Sahib 1st lane, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the guideline value determined for properties in Egmore?

The guideline value is determined based on various factors, including land classification and previous revision figures. It is updated periodically to reflect changes in the real estate market.