Guideline Value for Bazar street

Bazar street guideline value

The current guideline value of Bazar street in Thirupachur village, under the Tiruvallur Joint 1 SRO, is Rs 2,000 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Bazar street has changed

The guideline value for Bazar street has undergone several revisions over the years. In the 2007 revision, the value was Rs 75 per sq.ft, which saw a significant increase of 2567% to Rs 2,000 per sq.ft in the 2012 revision. However, it then decreased by 33% to Rs 1,340 per sq.ft in 2017. The 2023 revision maintained this value at Rs 2,000 per sq.ft, and the 2024 revision also remains at Rs 2,000 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for Bazar street in the years 2002 and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 2567%.

Guideline values in Thirupachur

In Thirupachur village, there are 19 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, placing Bazar street's 2024 figure above that median.

• Bramanar street: Rs 1,500 per sq.ft (2024)
• Chandu street: Rs 550 per sq.ft (2024)
• J. J.Nagar: Rs 400 per sq.ft (2024)
• Kadai street: Rs 1,000 per sq.ft (2024)
• Kosa street: Rs 550 per sq.ft (2024)
• Kottai Colony: Rs 300 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 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and 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 duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bazar street?

The Sub Registrar Office that covers Bazar street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Thirupachur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is officially recorded and that the necessary taxes are paid based on the established guideline value.

Frequently asked questions

What is the current guideline value of Bazar street?

The current guideline value of Bazar street is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bazar street has seen significant changes, increasing from Rs 75 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2012, then decreasing to Rs 1,340 per sq.ft in 2017, and remaining at Rs 2,000 per sq.ft in both 2023 and 2024.

What is the land classification of Bazar street?

Bazar street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

What are the other guideline values in Thirupachur?

In Thirupachur, other streets have varying guideline values, with rates ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft.

Where can I find the Sub Registrar Office for Bazar street?

The Sub Registrar Office for Bazar street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.