Guideline Value for Boobathi Nagar 2nd Cross Street

Boobathi Nagar 2nd Cross Street guideline value

The current guideline value of Boobathi Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village, under the Pallavaram SRO, and is classified as Mixed Type - II land.

How the guideline value of Boobathi Nagar 2nd Cross Street has changed

The guideline value for Boobathi Nagar 2nd Cross Street has seen several revisions over the years. Starting from Rs 151 per sq.ft in 2003, the value increased significantly to Rs 1,175 per sq.ft in 2007, marking a substantial rise of 678%. The value then rose to Rs 3,000 per sq.ft in 2012, which was a 155% increase from the previous figure. However, it decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2085%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Kilkattalai

Kilkattalai village has 194 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, and Boobathi Nagar 2nd Cross Street's 2024 figure is above this median.

• Boobathi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Boobathi Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Boobathi Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Boobathi Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Boobathi Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Boopathi Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Boobathi Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, together totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Boobathi Nagar 2nd Cross Street?

The Sub Registrar Office that covers Boobathi Nagar 2nd Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kilkattalai

The guideline value is an essential factor when registering property transactions in Kilkattalai. It serves as a benchmark for determining the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which aids in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Boobathi Nagar 2nd Cross Street?

The current guideline value of Boobathi Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 151 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 2085% over this period.

What is the land classification for Boobathi Nagar 2nd Cross Street?

Boobathi Nagar 2nd Cross Street is classified as Mixed Type - II land.

Where can I find the registration office for Boobathi Nagar 2nd Cross Street?

The registration office for Boobathi Nagar 2nd Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Boobathi Nagar 2nd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.