Guideline Value for Bashyam Street

Bashyam Street guideline value

The current guideline value of Bashyam Street in Tondaiarpet village, under the Royapuram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Bashyam Street has changed

Over the years, the guideline value of Bashyam Street has seen several revisions. The 2007 revision recorded a value of Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 186%. However, the value dropped to Rs 1,340 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision saw another increase to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,200 per sq.ft, representing a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 214%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Bashyam Street's 2024 figure above this median.

• Basin Bridge Road: Rs 4,900 per sq.ft (2024)
• Balu Street: Rs 2,200 per sq.ft (2024)
• Balakrishnan 2nd Street: Rs 1,600 per sq.ft (2024)
• Balakrishnan 1st Street: Rs 1,600 per sq.ft (2024)
• Bishob 2nd Lane: Rs 1,100 per sq.ft (2024)
• Bishob 3rd Lane: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bashyam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bashyam Street?

The Sub Registrar Office that covers Bashyam Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees when buying or selling property. The guideline value is considered the minimum value for registration purposes, ensuring that the property is registered at a fair value.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bashyam Street?

The current guideline value of Bashyam Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

What is the land classification of Bashyam Street?

Bashyam Street is classified as Residential Class I Type - I, indicating it is designated for residential use.

Where can I find the Sub Registrar Office for Bashyam Street?

The Sub Registrar Office for Bashyam Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What are the registration fees for property transactions in Bashyam Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.