Guideline Value for Basin Bridge Road

Basin Bridge Road guideline value

The current guideline value of Basin Bridge Road, located in Vepery village under the Periamet SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - II.

How the guideline value of Basin Bridge Road has changed

The guideline value for Basin Bridge Road has undergone several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012, marking a 250% increase. However, this value dropped to Rs 4,690 per sq.ft in 2017, reflecting a decrease of 33% from the previous revision. The value then rose sharply to Rs 7,000 per sq.ft in 2023, and further increased by 10% to reach the current value of Rs 7,700 per sq.ft in 2024.

There are no figures available for the years 2002 and 2003 for this street. The increase from 2017 to 2023 was 49%, and the overall increase from 2007 to 2024 is 285%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value is Rs 4,800 per sq.ft, making the guideline value of Basin Bridge Road above this median.

• Basin Elephant Gate road: Rs 6,000 per sq.ft (2024)
• Barracks Road: Rs 3,300 per sq.ft (2024)
• Barracks lane: Rs 2,700 per sq.ft (2024)
• Bazaar Lane(Part): Rs 7,000 per sq.ft (2024)
• Beautiful Park Salai: Rs 7,000 per sq.ft (2024)
• Balarkalvi Nilayam Road: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Basin Bridge Road

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value totals Rs 77,00,000. The stamp duty at 7% would be 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Basin Bridge Road?

The Sub Registrar Office that covers Basin Bridge Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vepery. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that these costs are based on a standardized value rather than individual sale prices.

When a property is registered, the higher amount between the guideline value and the sale price is used to calculate the applicable duties and fees. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Basin Bridge Road?

The current guideline value of Basin Bridge Road 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 seen significant changes, increasing from Rs 2,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, which is an overall increase of 285%.

What are the stamp duty and registration fees for property in Basin Bridge Road?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 6,93,000.

Which SRO covers Basin Bridge Road?

Basin Bridge Road falls under the jurisdiction of the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Basin Bridge Road?

Basin Bridge Road is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.