Guideline Value for Bazaar Street /Lane

Bazaar Street /Lane guideline value

The current guideline value of Bazaar Street /Lane in Thirunageswaram village is Rs 2,000 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur SRO and is classified as Residential Special Type - I.

How the guideline value of Bazaar Street /Lane has changed

The guideline value for Bazaar Street /Lane has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,800 per sq.ft. This figure remained until the 2017 revision, which brought it down to Rs 1,206 per sq.ft, reflecting a decrease of 33%. The value then increased significantly to Rs 1,800 per sq.ft in 2023, followed by a further increase to Rs 2,000 per sq.ft in 2024, marking an 11% rise from the previous year.

From the 2017 revision to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for Bazaar Street /Lane for the years 2002, 2003, and 2007.

Guideline values in Thirunageswaram

In Thirunageswaram, there are a total of 105 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,550 per sq.ft, placing Bazaar Street /Lane above this median.

• Bhavaniamman Koil 1st Cross Street: Rs 1,550 per sq.ft (2024)
• Bhavaniamman Koil 1st Street: Rs 1,550 per sq.ft (2024)
• Bhavaniamman Koil 2nd Cross Street: Rs 1,550 per sq.ft (2024)
• Bhavaniamman Koil 2nd Street: Rs 1,550 per sq.ft (2024)
• Bhavaniamman Koil 3rd Street: Rs 1,550 per sq.ft (2024)
• Bhavaniamman Koil Street: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Bazaar Street /Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, while the registration fee at 2% would be Rs 40,000, bringing the total fees to Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or 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 Street /Lane?

The Bazaar Street /Lane is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is an essential reference for determining the value of properties during registration in Thirunageswaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is documented accurately in the official records.

When buying or selling property, the guideline value helps in establishing a fair price for both parties involved. It is crucial for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bazaar Street /Lane?

The current guideline value of Bazaar Street /Lane is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 2,000 per sq.ft in 2024.

What is the median guideline value for streets in Thirunageswaram?

The median guideline value for the 105 streets in Thirunageswaram is Rs 1,550 per sq.ft, placing Bazaar Street /Lane above this median.

What are the stamp duty and registration fees for a property in Bazaar Street /Lane?

For a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000, and the registration fee would be Rs 40,000, totaling Rs 1,80,000.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.