Guideline Value for Bazaar Road (Royapettah) Gowdia Mutt Road

Bazaar Road (Royapettah) Gowdia Mutt Road guideline value

The current guideline value of Bazaar Road (Royapettah) Gowdia Mutt Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street falls under the Mylapore Part 1 village and is classified as Commercial Special Type - III by the Chennai Central Joint I SRO.

How the guideline value of Bazaar Road (Royapettah) Gowdia Mutt Road has changed

The guideline value for Bazaar Road (Royapettah) Gowdia Mutt Road has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 13,200 per sq.ft, which is a 10% increase from the 2023 revision of Rs 12,000 per sq.ft. There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017, as the register has no figure for this street in it.

From the 2023 revision to the 2024 revision, the increase of 10% reflects the current market conditions. The guideline value has been revised periodically, with the latest figure being the highest recorded for this street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Bazaar Road (Royapettah) Gowdia Mutt Road above this median value.

• Beerkaran 1st Cross Street: Rs 7,700 per sq.ft (2024)
• Basheer Ahamed Road: Rs 14,300 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)
• Baruva Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bazaar Road (Royapettah) Gowdia Mutt Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, leading to a total of Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Bazaar Road (Royapettah) Gowdia Mutt Road?

The Bazaar Road (Royapettah) Gowdia Mutt Road is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Mylapore Part 1, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during registration.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the property transfer process. Understanding the guideline value helps in budgeting for these expenses effectively.

Frequently asked questions

What is the current guideline value of Bazaar Road (Royapettah) Gowdia Mutt Road?

The current guideline value of Bazaar Road (Royapettah) Gowdia Mutt Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, representing a 10% increase.

What is the land classification for this street?

Bazaar Road (Royapettah) Gowdia Mutt Road is classified as Commercial Special Type - III.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which office handles registrations for this street?

The Chennai Central Joint I Sub Registrar Office handles registrations for Bazaar Road (Royapettah) Gowdia Mutt Road, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.