Guideline Value for Bible Street

Bible Street guideline value

The current guideline value of Bible Street in Kovilpathagai village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class II Type - I.

How the guideline value of Bible Street has changed

The guideline value for Bible Street has seen several revisions over the years. The earliest recorded figure is from 2012, when it was Rs 800 per sq.ft. This value remained unchanged until the next revision in 2017, where it dropped to Rs 536 per sq.ft. However, it rose significantly to Rs 800 per sq.ft in 2023, and then increased to Rs 880 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no recorded figures for the years 2002, 2003, and 2007 for Bible Street.

Guideline values in Kovilpathagai

Kovilpathagai has a total of 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. Bible Street's 2024 figure of Rs 880 per sq.ft is above this median.

• Bhuvaneswari Street: Rs 880 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 807 per sq.ft (2024)
• Bhavanar Street: Rs 880 per sq.ft (2024)
• Bound Street: Rs 880 per sq.ft (2024)
• Bharath Nagar: Rs 1,100 per sq.ft (2024)
• Brindhavan Nagar: Rs 805 per sq.ft (2024)

Stamp duty and registration fee for property in Bible Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. 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 details.

Which Sub Registrar Office covers Bible Street?

The Sub Registrar Office that covers Bible Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, 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 Kovilpathagai

The guideline value is a crucial factor during the registration of property transactions in Kovilpathagai. It serves as a benchmark for determining the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Bible Street?

The current guideline value of Bible Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024, which is a 10% increase.

What is the land classification for Bible Street?

Bible Street is classified as Residential Class II Type - I under the Ambattur SRO.

What are the stamp duty and registration fees for property in Bible Street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Where can I find the Sub Registrar Office for Bible Street?

The Sub Registrar Office for Bible Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.