Guideline Value for Bojaraja Nagar 2nd Lane

Bojaraja Nagar 2nd Lane guideline value

The current guideline value for Bojaraja Nagar 2nd Lane is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Bojaraja Nagar 2nd Lane has changed

The guideline value for Bojaraja Nagar 2nd Lane has seen several revisions over the years. The earliest recorded figure is from 2007, when 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, reflecting a decrease of 33%. The value then increased significantly to Rs 1,200 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, representing an 8% increase from the previous year.

It is important to note that the register has no figures for Bojaraja Nagar 2nd Lane for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 117%.

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, with a median value of Rs 1,600 per sq.ft. The guideline value for Bojaraja Nagar 2nd Lane is below this median.

• Bojaraja Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 1st Lane: 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 2nd Lane

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to 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 higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bojaraja Nagar 2nd Lane?

The Bojaraja Nagar 2nd Lane falls under the jurisdiction of 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 during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is taken into account to assess the applicable fees. This ensures that the government receives the appropriate revenue based on the established values for different areas, including Bojaraja Nagar 2nd Lane.

Frequently asked questions

What is the current guideline value for Bojaraja Nagar 2nd Lane?

The current guideline value for Bojaraja Nagar 2nd Lane 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 is the land classification for Bojaraja Nagar 2nd Lane?

Bojaraja Nagar 2nd Lane is classified as Residential Class II Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Bojaraja Nagar 2nd Lane is the Royapuram SRO, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Bojaraja Nagar 2nd Lane?

The stamp duty for properties in Bojaraja Nagar 2nd Lane is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.