Guideline Value for Bazzar Street

Bazzar Street guideline value

The current guideline value of Bazzar Street is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village under the Ambattur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Bazzar Street has changed

In the 2012 revision, the guideline value was Rs 6,500 per sq.ft. This value remained unchanged in the 2017 revision, where it was Rs 4,355 per sq.ft, reflecting a decrease of 33%. The 2023 revision again set the value at Rs 6,500 per sq.ft, with no change from the previous year. The latest 2024 revision also maintains the guideline value at Rs 6,500 per sq.ft, showing no change from 2023.

Between the revisions, from 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, when comparing the figures from 2012 to 2024, the guideline value shows no change.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, placing Bazzar Street's 2024 figure above this median.

• Bavani Nagar: Rs 2,500 per sq.ft (2024)
• Barathiyar Street: Rs 3,600 per sq.ft (2024)
• Bhagath Singh 1st Street(Thiruvalluvar nagar): Rs 1,400 per sq.ft (2024)
• Bhagavathi Ammal Koil St.: Rs 3,600 per sq.ft (2024)
• Bank Street (Ram Nagar): Rs 4,600 per sq.ft (2024)
• Bala vinayagar Kovil Street: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Bazzar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, while the registration fee at 2% would be Rs 1,30,000, bringing the total to Rs 5,85,000. 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 detailed calculations.

Which Sub Registrar Office covers Bazzar Street?

Bazzar Street falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Ambattur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bazzar Street?

The current guideline value of Bazzar Street is Rs 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 6,500 per sq.ft in both the 2023 and 2024 revisions. The value was Rs 4,355 per sq.ft in the 2017 revision and Rs 6,500 per sq.ft in the 2012 revision.

What are the registration fees for property in Bazzar Street?

The registration fees for property in Bazzar Street depend on the guideline value. For example, a property valued at Rs 65,00,000 would incur a registration fee of Rs 1,30,000 at a rate of 2%.

Which office handles property registrations in Ambattur?

The Ambattur Sub Registrar Office handles property registrations in Ambattur. It is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

What is the significance of the guideline value?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It serves as a reference point for property valuations in the area.