Guideline Value for Bazar Street

Bazar Street guideline value

The current guideline value of Bazar Street in Anakaputhur village is Rs 1,760 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office and is classified as Residential Class II Type - I.

How the guideline value of Bazar Street has changed

The guideline value for Bazar Street has seen significant changes over the years. In 2003, the guideline value was Rs 271 per sq.ft, which increased to Rs 300 per sq.ft in 2007, marking an increase of 11%. By 2017, the value rose dramatically to Rs 1,072 per sq.ft, reflecting a substantial increase of 257%. The value continued to rise, reaching Rs 1,600 per sq.ft in 2023, which was a 49% increase from the previous revision. The latest revision in 2024 sets the guideline value at Rs 1,760 per sq.ft, a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2012 for Bazar Street. Overall, from 2003 to 2024, the guideline value has increased by 549%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, which means Bazar Street's 2024 figure is below that median.

• Bhakathvachalam Nagar 1st Cross Street: Rs 2,350 per sq.ft (2024)
• Bhakathvachalam Nagar 2nd Cross Street: Rs 2,350 per sq.ft (2024)
• Bhakathvachalam Nagar 3rd Cross Street: Rs 2,350 per sq.ft (2024)
• Bhakathvachalam Nagar Main Road: Rs 2,350 per sq.ft (2024)
• Bhakathvachalam Street: Rs 2,350 per sq.ft (2024)
• Balaji Nagar Viveganandhar Street: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in Bazar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. Together, these fees total Rs 1,58,400. 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 Bazar Street?

The Bazar Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the registration fees and stamp duty when buying or selling property in Anakaputhur. It ensures that the transaction is recorded at a value that reflects the current market conditions set by the Registration Department.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable taxes and fees. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Bazar Street?

The current guideline value of Bazar Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 271 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, reflecting a total increase of 549% over the years.

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

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles registrations for Bazar Street?

The Pammal Sub Registrar Office handles registrations for Bazar Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Bazar Street?

Bazar Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.