Guideline Value for Boobathi Nagar 3rd Cross Street

Boobathi Nagar 3rd Cross Street guideline value

The current guideline value of Boobathi Nagar 3rd 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, with a land classification of Mixed Type - II.

How the guideline value of Boobathi Nagar 3rd Cross Street has changed

The guideline value for Boobathi Nagar 3rd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 151 per sq.ft. This value increased significantly to Rs 1,175 per sq.ft in 2007. Following that, the guideline value rose to Rs 3,000 per sq.ft in 2012, before decreasing to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

In summary, the changes between the revisions are notable. From 2003 to 2007, the value increased by 678%. The subsequent revision from 2007 to 2012 saw a decrease of 33%. The value then rose by 49% from 2017 to 2023. 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 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 5,500 per sq.ft, with a median value of Rs 2,530 per sq.ft. The guideline value for Boobathi Nagar 3rd Cross Street is above this median.

• Boobathi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Boobathi Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Boobathi Nagar 1st 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 3rd 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Boobathi Nagar 3rd Cross Street?

The Sub Registrar Office that covers Boobathi Nagar 3rd 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 in the registration process of property transactions in Kilkattalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When registering a property, 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 both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Boobathi Nagar 3rd Cross Street?

The current guideline value of Boobathi Nagar 3rd 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 significantly 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 stamp duty for properties in Boobathi Nagar 3rd Cross Street?

The stamp duty for properties in Boobathi Nagar 3rd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Boobathi Nagar 3rd Cross Street?

The Sub Registrar Office for Boobathi Nagar 3rd Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Boobathi Nagar 3rd Cross Street?

The land classification for Boobathi Nagar 3rd Cross Street is Mixed Type - II, which is important for understanding the property's zoning and usage regulations.