Guideline Value for Bojaraja Nagar 7th Lane

Bojaraja Nagar 7th Lane guideline value

The current guideline value of Bojaraja Nagar 7th Lane is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Bojaraja Nagar 7th Lane has changed

Over the years, the guideline value of Bojaraja Nagar 7th Lane has seen several revisions. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, there was a decrease to Rs 804 per sq.ft in 2017. The value then rose significantly to Rs 1,200 per sq.ft in 2023, before reaching the current rate of Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

Notably, the register has no figures for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 reflects a total increase of 117% in the guideline value per sq.ft.

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, indicating that Bojaraja Nagar 7th Lane's 2024 figure is below this median.

• Bojaraja Nagar 6th Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 8th Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 5th Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar Main Street: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar 4th Lane: Rs 1,300 per sq.ft (2024)
• Bojaraja Nagar North Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bojaraja Nagar 7th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total 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 fees together to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bojaraja Nagar 7th Lane?

The Sub Registrar Office that covers Bojaraja Nagar 7th 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 details.

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 the stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than individual sale prices.

When a property is registered, the higher value between the guideline value and the sale price is used to determine the applicable fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bojaraja Nagar 7th Lane?

The current guideline value of Bojaraja Nagar 7th 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 this period.

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 registrations for Bojaraja Nagar 7th Lane?

The Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021, covers registrations for Bojaraja Nagar 7th Lane.

What is the land classification for Bojaraja Nagar 7th Lane?

Bojaraja Nagar 7th Lane is classified as Residential Class II Type - I, which is relevant for determining the guideline value and other regulatory aspects.