Guideline Value for Bishob 2nd Lane

Bishob 2nd Lane guideline value

The current guideline value of Bishob 2nd Lane is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO and is classified as Residential Class II Type - II.

How the guideline value of Bishob 2nd Lane has changed

The guideline value for Bishob 2nd Lane has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 500 per sq.ft. This increased to Rs 1,000 per sq.ft in 2012, marking a 100% rise. However, it later decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value then increased significantly to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing Bishob 2nd Lane's 2024 figure below that median.

• Bishob 3rd Lane: Rs 1,100 per sq.ft (2024)
• Bishob 4th Lane: Rs 1,100 per sq.ft (2024)
• Bojaraja Nagar 1st Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 2nd Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 2nd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bishob 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, totaling 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 Bishob 2nd Lane?

The Sub Registrar Office covering Bishob 2nd Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When a property is registered, the guideline value is assessed to determine the applicable fees. This ensures transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Bishob 2nd Lane?

The current guideline value of Bishob 2nd Lane 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 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 120% over the years.

What is the land classification for Bishob 2nd Lane?

Bishob 2nd Lane is classified as Residential Class II Type - II under the current regulations.

Where can I find the registration office for Bishob 2nd Lane?

The registration office for Bishob 2nd Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Tondaiarpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 11,00,000, the stamp duty at 7% would be Rs 77,000.