Guideline Value for Bazzar Street

Bazzar Street guideline value

The current guideline value of Bazzar Street is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Periyapalayam village, under the Arani_Tiruvallur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Bazzar Street has changed

Over the years, the guideline value of Bazzar Street has seen several revisions. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 600 per sq.ft in the 2012 revision, marking a 300% increase. However, the value dropped to Rs 402 per sq.ft in the 2017 revision, a decrease of 33%. In the subsequent revisions, the value remained at Rs 600 per sq.ft for both the 2023 and 2024 revisions, indicating no change in the guideline value during these years.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%.

Guideline values in Periyapalayam

In Periyapalayam village, there are 31 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value, ranging from Rs 160 to Rs 600 per sq.ft. The median value among these streets is Rs 200 per sq.ft, placing Bazzar Street's 2024 figure above that median.

• B.V.S.Vasantham Nagar: Rs 200 per sq.ft (2024)
• Danduma Nagar: Rs 200 per sq.ft (2024)
• Darma Raja Kovil Street: Rs 250 per sq.ft (2024)
• Ambedhkar Nagar: Rs 160 per sq.ft (2024)
• Eswaran Koil Street: Rs 600 per sq.ft (2024)
• J.H. Nagar Annex: Rs 600 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 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Bazzar Street?

The Sub Registrar Office that covers Bazzar Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Periyapalayam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Bazzar Street?

The current guideline value of Bazzar Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 150 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then dropping to Rs 402 per sq.ft in 2017, and remaining at Rs 600 per sq.ft in 2023 and 2024.

What is the land classification of Bazzar Street?

Bazzar Street is classified as Commercial Class I Type - I under the current guidelines.

Where is the Sub Registrar Office for Bazzar Street located?

The Sub Registrar Office for Bazzar Street is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.

How is stamp duty calculated for property in Bazzar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 at 7%.