Guideline Value for Bazaar south street

Bazaar south street guideline value

The current guideline value of Bazaar south street is Rs 2,600 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village under the Periamet SRO and falls under the Residential Class III Type - III land classification.

How the guideline value of Bazaar south street has changed

The guideline value for Bazaar south street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 600 per sq.ft. This increased significantly to Rs 2,400 per sq.ft in 2012, marking a 300% rise. However, it dropped to Rs 1,608 per sq.ft in 2017, a decrease of 33%. By 2023, the value had risen again to Rs 2,400 per sq.ft, followed by the current value of Rs 2,600 per sq.ft from the 2024 revision, an increase of 8%.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 333%.

Guideline values in Chindadripet

In Chindadripet village, there are 98 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Bazaar south street is below this median.

• Bazaar Street: Rs 4,400 per sq.ft (2024)
• Balakrishna pillai street: Rs 4,400 per sq.ft (2024)
• Balakrishna Pillai 1st lane: Rs 3,300 per sq.ft (2024)
• Ayya Mudali street: Rs 6,000 per sq.ft (2024)
• Ayya mudali lane: Rs 3,800 per sq.ft (2024)
• Ayya Mudalai Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bazaar south street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,600 per sq.ft, the total guideline value would be Rs 26,00,000. The stamp duty at 7% would amount to Rs 1,82,000, and the registration fee at 2% would be Rs 52,000, bringing the total to Rs 2,34,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bazaar south street?

The Bazaar south street falls under the Periamet Sub Registrar Office located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Chindadripet. It is used to determine the stamp duty and registration fees that need to be paid during the purchase or sale of property.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bazaar south street?

The current guideline value of Bazaar south street is Rs 2,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,600 per sq.ft in 2024, marking an overall increase of 333% over the years.

What are the other streets in Chindadripet with their guideline values?

Other streets in Chindadripet have varying guideline values, with notable examples including Bazaar Street and Balakrishna pillai street, both at Rs 4,400 per sq.ft in 2024.

What fees are associated with buying property on Bazaar south street?

When buying property on Bazaar south street, the total stamp duty is calculated at 7% of the guideline value, along with a registration fee of 2% of the guideline value.

Where can I find the Sub Registrar Office for Bazaar south street?

The Sub Registrar Office for Bazaar south street is located at 1103, Poonamallee High Road, Chennai-600 003, under the Periamet SRO.