Guideline Value for Bootha Perumal Naiken Lane

Bootha Perumal Naiken Lane guideline value

The current guideline value of Bootha Perumal Naiken Lane is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Bootha Perumal Naiken Lane has changed

The guideline value for Bootha Perumal Naiken Lane has undergone several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012, marking a 300% rise. However, this value decreased to Rs 5,360 per sq.ft in 2017, representing a 33% decline. The value then rose to Rs 8,000 per sq.ft in 2023, and further increased by 10% to the current value of Rs 8,800 per sq.ft in 2024.

Overall, from 2007 to 2024, the guideline value has increased by 340%. The revisions for 2002 and 2003 do not have figures available for this street in the register.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, which is the same as the current value for Bootha Perumal Naiken Lane.

• Bootha Perumal Naicken St: Rs 8,800 per sq.ft (2024)
• Binny Road: Rs 12,600 per sq.ft (2024)
• Brown Stone Apartments: Rs 11,500 per sq.ft (2024)
• Cathedral Garden Lane: Rs 10,400 per sq.ft (2024)
• Cathedral Garden Road: Rs 12,600 per sq.ft (2024)
• Bhagadhur Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bootha Perumal Naiken Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000. Together, the total cost for stamp duty and registration would be Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bootha Perumal Naiken Lane?

The Sub Registrar Office that covers Bootha Perumal Naiken Lane is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bootha Perumal Naiken Lane?

The current guideline value of Bootha Perumal Naiken Lane is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the land classification for Bootha Perumal Naiken Lane?

The land classification for Bootha Perumal Naiken Lane is Residential Special Type - II.

Where can I find the Sub Registrar Office for Bootha Perumal Naiken Lane?

The Sub Registrar Office for Bootha Perumal Naiken Lane is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for property in Bootha Perumal Naiken Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 6,16,000.