Guideline Value for Basin Bridge Road

Basin Bridge Road guideline value

The current guideline value of Basin Bridge Road in Muthiyalpet village, under the Sowcarpet SRO, is Rs 6,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Basin Bridge Road has changed

The guideline value for Basin Bridge Road has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 1,228 per sq.ft. This increased to Rs 2,000 per sq.ft in 2007, followed by a significant rise to Rs 5,500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 3,685 per sq.ft. The 2023 revision brought it up to Rs 5,500 per sq.ft again, and the most recent revision in 2024 has set it at Rs 6,000 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 389%. The register does not have a figure for the year 2002 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Basin Bridge Road is above this median.

• Basin Street: Rs 6,000 per sq.ft (2024)
• Basin Water Works Street: Rs 6,000 per sq.ft (2024)
• Bashiyakkara Naidu Street: Rs 5,500 per sq.ft (2024)
• Barracks Road (Anjaneyar Koil Street): Rs 4,900 per sq.ft (2024)
• Barracks 2nd Lane: Rs 4,900 per sq.ft (2024)
• Barracks 1st Lane: Rs 4,900 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 guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. It is important to note that 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 Basin Bridge Road?

The Sub Registrar Office that covers Basin Bridge Road is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the government receives the correct amount based on the property's assessed value. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Basin Bridge Road?

The current guideline value of Basin Bridge Road is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,228 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, with various increases and decreases in between. The most recent revision in 2024 reflects a 9% increase from the previous year's value.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Basin Bridge Road's value being above this median.

What fees are associated with buying property on Basin Bridge Road?

When buying property on Basin Bridge Road, the stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Basin Bridge Road?

The Sub Registrar Office for Basin Bridge Road is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.