Guideline Value for Bhuoshanam Street

Bhuoshanam Street guideline value

The current guideline value of Bhuoshanam Street in Chinna Sembaram Bakkam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Sembiam SRO and is classified as Residential Class III Type - I.

How the guideline value of Bhuoshanam Street has changed

The guideline value for Bhuoshanam Street has seen several revisions over the years. In 2003, the value was Rs 284 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The value then rose significantly to Rs 1,000 per sq.ft in 2012, before decreasing to Rs 670 per sq.ft in 2017. The most recent revisions saw the value increase to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of 2024. The register has no figure for the year 2002 for this street.

From 2003 to 2024, the overall increase in guideline value is 287%. Notably, the jump from 2023 to 2024 is 10%, while the increase from 2017 to 2023 was 49%. The value fluctuated with a decrease of 33% from 2012 to 2017, and a remarkable increase of 100% from 2007 to 2012, as well as a 76% rise from 2003 to 2007.

Guideline values in Chinna Sembaram Bakkam

In Chinna Sembaram Bakkam, there are 37 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft, with a median value of Rs 1,400 per sq.ft. Bhuoshanam Street's 2024 guideline value is below this median.

• Bharathamada Street: Rs 1,100 per sq.ft (2024)
• Constable Road: Rs 2,200 per sq.ft (2024)
• Constable Street: Rs 1,600 per sq.ft (2024)
• Duraisamy Street: Rs 1,100 per sq.ft (2024)
• Artisan Shanmugam Road (Shanmunga Mudaliar Street): Rs 1,400 per sq.ft (2024)
• Appadurai Naiken Main Road: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bhuoshanam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total charges Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhuoshanam Street?

The Sub Registrar Office that covers Bhuoshanam Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Chinna Sembaram Bakkam

The guideline value is a crucial factor in property transactions in Chinna Sembaram Bakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements and to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value is used to assess the stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that all transactions are recorded accurately and transparently within the real estate market.

Frequently asked questions

What is the current guideline value of Bhuoshanam Street?

The current guideline value of Bhuoshanam Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 284 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 287% over the years.

What is the land classification for Bhuoshanam Street?

Bhuoshanam Street is classified as Residential Class III Type - I under the current guidelines.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Bhuoshanam Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 77,000.