Guideline Value for Boopathy Nagar

Boopathy Nagar guideline value

The current guideline value of Boopathy Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Boopathy Nagar has changed

The guideline value for Boopathy Nagar has undergone several revisions over the years. The earliest recorded value in 2002 was Rs 624 per sq.ft. This figure increased to Rs 708 per sq.ft in 2003, marking a rise of 13%. In 2007, the value saw a substantial jump to Rs 1,200 per sq.ft, which is an increase of 69%. The 2012 revision recorded a guideline value of Rs 4,000 per sq.ft, reflecting a significant increase of 233% from the previous year. However, the value dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 brought the value back up to Rs 4,000 per sq.ft, and the latest revision in 2024 set the current guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in years other than those listed above. Overall, from 2002 to 2024, the guideline value has increased by 605%.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO with a guideline value range for 2024 from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Boopathy Nagar's 2024 figure below that median.

• Butmedu (G.K.M. Colony) Chennai 82: Rs 2,700 per sq.ft (2024)
• Chakravarthy Colony: Rs 5,500 per sq.ft (2024)
• Bharathi Nagar Main Road: Rs 4,900 per sq.ft (2024)
• Bharathi Nagar Cross Street: Rs 4,900 per sq.ft (2024)
• Chelliamman Koil Street: Rs 4,900 per sq.ft (2024)
• Chengalvarayan Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Boopathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost for duty and registration would be Rs 3,96,000. 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 more detailed calculations.

Which Sub Registrar Office covers Boopathy Nagar?

The Sub Registrar Office that covers Boopathy Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

When buying or selling property in Ayanavaram, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is the minimum value set by the government for property transactions, and it ensures that the property is registered at a fair value.

During the registration process, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This means that if the sale price is lower than the guideline value, the buyer will still pay duty based on the guideline value.

Frequently asked questions

What is the current guideline value of Boopathy Nagar?

The current guideline value of Boopathy Nagar is Rs 4,400 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 624 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 605%.

What is the land classification for Boopathy Nagar?

Boopathy Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the registration fees for property in Boopathy Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Boopathy Nagar located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.