Guideline Value for Bojaraja Nagar 1st Street

Bojaraja Nagar 1st Street guideline value

The current guideline value of Bojaraja Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bojaraja Nagar 1st Street has changed

The guideline value for Bojaraja Nagar 1st Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The value then rose significantly to Rs 1,200 per sq.ft in 2023, and again to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 117%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, 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, placing Bojaraja Nagar 1st Street's 2024 figure below the median.

• Bojaraja Nagar 1st Lane: 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)
• Bojaraja Nagar 3rd Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 4th Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 5th Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bojaraja Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bojaraja Nagar 1st Street?

The Sub Registrar Office that covers Bojaraja Nagar 1st Street 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 helps determine the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When a property is sold, the guideline value is used to assess the transaction for taxation purposes. Buyers and sellers must be aware of these values to accurately calculate the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Bojaraja Nagar 1st Street?

The current guideline value of Bojaraja Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office handles property registrations for Bojaraja Nagar 1st Street?

The Royapuram Sub Registrar Office handles property registrations for Bojaraja Nagar 1st Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Bojaraja Nagar 1st Street?

The land classification for Bojaraja Nagar 1st Street is Residential Class II Type - I.