Guideline Value for Bishob 4th Lane

Bishob 4th Lane guideline value

The current guideline value of Bishob 4th Lane is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Bishob 4th Lane has changed

The guideline value for Bishob 4th Lane has seen several revisions over the years. In the 2007 revision, the value was Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. However, in the 2017 revision, it decreased to Rs 670 per sq.ft. The value then rose significantly to Rs 1,000 per sq.ft in the 2023 revision, before reaching the current value of Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. The 2012 to 2017 period saw a decrease of 33%. The overall change from the 2007 revision to the 2024 revision reflects an increase of 120%. The register has no figure for this street in the years 2002 and 2003.

Guideline values in Tondaiarpet

Within Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that Bishob 4th Lane's current guideline value is below this median.

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

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, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Bishob 4th Lane?

The Sub Registrar Office that covers Bishob 4th 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 determining the minimum value for which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is documented accurately according to the established guidelines.

Frequently asked questions

What is the current guideline value of Bishob 4th Lane?

The current guideline value of Bishob 4th 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 an overall increase of 120% over this period.

What is the land classification for Bishob 4th Lane?

Bishob 4th Lane is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021, and it oversees the registration for Bishob 4th Lane.