Guideline Value for Bazaar Road (Royapettah) Gowdia Mutt Road

Bazaar Road (Royapettah) Gowdia Mutt Road guideline value

The current guideline value for Bazaar Road (Royapettah) Gowdia Mutt Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This road is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - III.

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

The guideline value for Bazaar Road (Royapettah) Gowdia Mutt Road has undergone several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 12,000 per sq.ft, and the latest 2024 revision has increased it to Rs 13,200 per sq.ft, marking a change of +10% from the previous year.

Prior to the 2023 revision, there was no available figure for the street in the earlier years mentioned. The increase in the guideline value reflects the updated assessment as of 2024, positioning this street above the median guideline value of Rs 8,800 per sq.ft for Mylapore Part 2.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. Bazaar Road (Royapettah) Gowdia Mutt Road's 2024 figure of Rs 13,200 per sq.ft is above the median value of Rs 8,800 per sq.ft.

• 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, resulting in 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a critical factor in property transactions in Mylapore Part 2, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of property transactions, including taxes and fees that are mandatory at the time of registration.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has seen revisions, with the 2023 figure being Rs 12,000 per sq.ft, and the 2024 revision increasing it to Rs 13,200 per sq.ft, which is a +10% increase from the previous year.

What is the land classification for this area?

The land classification for Bazaar Road (Royapettah) Gowdia Mutt Road is Commercial Special Type - III.

What are the stamp duty and registration fees for properties 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 the registration for this street?

The registration for Bazaar Road (Royapettah) Gowdia Mutt Road is handled by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.