Guideline Value for Bazzar Road,Sadasivam Nagar,

Bazzar Road,Sadasivam Nagar, guideline value

The current guideline value of Bazzar Road, Sadasivam Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Bazzar Road,Sadasivam Nagar, has changed

The guideline value for Bazzar Road, Sadasivam Nagar has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 5,000 per sq.ft, which increased by 10% to Rs 5,500 per sq.ft in the 2024 revision.

From 2023 to 2024, the increase in the guideline value reflects a significant change. The previous revision in 2023 was Rs 5,000 per sq.ft, and the current value of Rs 5,500 per sq.ft marks a notable rise in the guideline value for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Bazzar Road's guideline value of Rs 5,500 per sq.ft is above this median.

• Bazzar Road (Madipakkam Velachery Main Road): Rs 5,500 per sq.ft (2024)
• Bazaar Street (Velachery Main Road): Rs 5,500 per sq.ft (2024)
• Bazaar Road Balaiah Garden: Rs 5,500 per sq.ft (2024)
• Baroda Colony W.D. Krishnamoorthy Nagar: Rs 2,200 per sq.ft (2024)
• Baroda Colony, Sakthi Nagar Extn,: Rs 2,200 per sq.ft (2024)
• Baroda Colony (Bank of Barodo Colony): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bazzar Road,Sadasivam Nagar,

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bazzar Road,Sadasivam Nagar,?

The Sub Registrar Office that covers Bazzar Road, Sadasivam Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives the appropriate taxes. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Bazzar Road, Sadasivam Nagar?

The current guideline value of Bazzar Road, Sadasivam Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bazzar Road has seen revisions in 2023 and 2024, increasing from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024, which is a 10% increase.

What is the land classification for Bazzar Road, Sadasivam Nagar?

Bazzar Road, Sadasivam Nagar is classified as Commercial Class I Type - I, which indicates its intended use for commercial activities.

What are the stamp duty and registration fees for properties on Bazzar Road?

For a property valued at Rs 55,00,000 on Bazzar Road, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which registration office covers Bazzar Road, Sadasivam Nagar?

The Velacheri Sub Registrar Office covers Bazzar Road, Sadasivam Nagar, and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.