Guideline Value for Bojaraja Nagar 5th Lane

Bojaraja Nagar 5th Lane guideline value

The current guideline value of Bojaraja Nagar 5th Lane 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 5th Lane has changed

The guideline value for Bojaraja Nagar 5th Lane has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, reflecting a significant rise of 100%. However, the value decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. The subsequent revision in 2023 saw the value rise again to Rs 1,200 per sq.ft, and the latest revision in 2024 has set the value at Rs 1,300 per sq.ft, which is an 8% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, 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. The median value for these streets is Rs 1,600 per sq.ft, placing Bojaraja Nagar 5th Lane's 2024 figure below that median.

• Bojaraja Nagar 4th Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 6th Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 3rd Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 7th Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 8th Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bojaraja Nagar 5th Lane

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, charged 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 higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bojaraja Nagar 5th Lane?

The Bojaraja Nagar 5th Lane is covered by 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 at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the current market conditions and maintains transparency in property transactions.

Frequently asked questions

What is the current guideline value of Bojaraja Nagar 5th Lane?

The current guideline value of Bojaraja Nagar 5th 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 several times, starting from Rs 600 per sq.ft in 2007, rising to Rs 1,200 in 2012, dropping to Rs 804 in 2017, and then increasing to Rs 1,200 in 2023, before reaching Rs 1,300 in 2024.

What is the land classification for Bojaraja Nagar 5th Lane?

The land classification for Bojaraja Nagar 5th Lane is Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Bojaraja Nagar 5th Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.