Guideline Value for Basheer Ahamed Road

Basheer Ahamed Road guideline value

The current guideline value of Basheer Ahamed Road is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Special Type - IV.

How the guideline value of Basheer Ahamed Road has changed

The guideline value for Basheer Ahamed Road has undergone several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 13,000 per sq.ft, which increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

This increase from Rs 13,000 to Rs 14,300 per sq.ft reflects a significant adjustment in the guideline value, aligning with the overall trends in the area. The current value is now above the median guideline value for the village, which is Rs 8,800 per sq.ft.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a total of 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. Basheer Ahamed Road's 2024 figure of Rs 14,300 per sq.ft is above the median value of Rs 8,800 per sq.ft. Below are other streets in Mylapore Part 1:

• Baruva Nagar: Rs 5,500 per sq.ft (2024)
• Bazaar Road (Royapettah) Gowdia Mutt Road: Rs 13,200 per sq.ft (2024)
• Beerkaran 1st Cross Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 1st Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 2nd Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 3rd Cross Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Basheer Ahamed Road

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your own fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Basheer Ahamed Road?

The Sub Registrar Office that covers Basheer Ahamed Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is an essential factor in property transactions in Mylapore Part 1, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Basheer Ahamed Road?

The current guideline value for Basheer Ahamed Road is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a 10% increase.

What is the median guideline value in Mylapore Part 1?

The median guideline value for Mylapore Part 1 is Rs 8,800 per sq.ft, and Basheer Ahamed Road's value is above this median.

What are the registration fees for properties on Basheer Ahamed Road?

The registration fees for properties are calculated based on the guideline value, which is Rs 14,300 per sq.ft for Basheer Ahamed Road. The total fees will depend on the size of the property.

Where is the Sub Registrar Office for Basheer Ahamed Road located?

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