Guideline Value for Bazaar Street

Bazaar Street guideline value

The current guideline value of Bazaar Street in Kattupakkam village is Rs 2,090 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Bazaar Street has changed

The guideline value of Bazaar Street has undergone several revisions over the years. In 2003, the value was Rs 309 per sq.ft, which increased to Rs 350 per sq.ft in 2007. The 2012 revision saw a significant jump to Rs 1,900 per sq.ft, but this was followed by a decrease to Rs 1,273 per sq.ft in 2017. The value then rose to Rs 1,900 per sq.ft in 2023, before reaching the current rate of Rs 2,090 per sq.ft in 2024.

Notably, the guideline value increased by 10% from 2023 to 2024. The jump from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%. The 2007 to 2012 period saw a remarkable increase of 443%, and the increase from 2003 to 2007 was 13%. Overall, from 2003 to 2024, the guideline value has increased by 576%. The register has no figure for Bazaar Street in 2002.

Guideline values in Kattupakkam

In Kattupakkam, there are 75 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,980 to Rs 4,290 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, which is equal to the current value of Bazaar Street.

• Balu Indira Nagar: Rs 2,360 per sq.ft (2024)
• Balasubramania Nagar: Rs 2,090 per sq.ft (2024)
• Bhaskar Avenue: Rs 2,090 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,090 per sq.ft (2024)
• Chandra Nagar: Rs 2,090 per sq.ft (2024)
• Chendurpuram Main Road: Rs 3,960 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 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total cost to Rs 1,88,100. It is important to note that the 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 Bazaar Street?

The Bazaar Street falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kattupakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer approaches the Kunrathur SRO for registration, the guideline value is used to calculate the necessary fees, ensuring compliance with the local regulations. Buyers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Bazaar Street?

The current guideline value of Bazaar Street is Rs 2,090 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 309 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, marking an overall increase of 576% over the years.

What are the other streets in Kattupakkam with guideline values?

Other streets in Kattupakkam include Balu Indira Nagar at Rs 2,360 per sq.ft, Balasubramania Nagar, Bhaskar Avenue, Bajanai Koil Street, and Chandra Nagar, all at Rs 2,090 per sq.ft, and Chendurpuram Main Road at Rs 3,960 per sq.ft.

What is the registration fee for property in Bazaar Street?

The registration fee for property in Bazaar Street is calculated based on the guideline value. For example, for a property valued at Rs 20,90,000, the registration fee would be Rs 41,800 at a rate of 2%.

Where can I find the Sub Registrar Office for Bazaar Street?

The Sub Registrar Office covering Bazaar Street is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details online.