Guideline Value for Bazaar Street

Bazaar Street guideline value

The current guideline value of Bazaar Street in Koyakbedu village, under the AnnaNagar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Bazaar Street has changed

Over the years, the guideline value for Bazaar Street has seen significant changes. In the 2007 revision, the value was Rs 1,100 per sq.ft. This increased dramatically to Rs 3,000 per sq.ft in the 2012 revision, marking a rise of 173%. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The subsequent 2023 revision saw a substantial increase to Rs 3,000 per sq.ft, followed by a further rise to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

It is important to note that there are no figures available for Bazaar Street in the 2002 and 2003 revisions. The overall change from 2007 to 2024 shows an increase of 200%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Bazaar Street's 2024 value below this median.

• Bharathi Avenue: Rs 3,300 per sq.ft (2024)
• Bharathi Street: Rs 3,300 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Balaji Nagar: Rs 3,300 per sq.ft (2024)
• Brindavan Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bazaar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bazaar Street?

Bazaar Street falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Koyakbedu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transaction, facilitating a smoother process during property transfers.

Frequently asked questions

What is the current guideline value of Bazaar Street?

The current guideline value of Bazaar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,100 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 200% over the years.

What is the land classification for Bazaar Street?

Bazaar Street is classified under Residential Class I Type - III.

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

For a 1,000 sq.ft property, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Bazaar Street?

The AnnaNagar Sub Registrar Office covers Bazaar Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.