Guideline Value for Bound Street

Bound Street guideline value

The current guideline value of Bound Street in Manimangalam A village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Padappai SRO and is classified as Residential Class I Type - I.

How the guideline value of Bound Street has changed

The guideline value for Bound Street has seen several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 536 per sq.ft. This increased to Rs 800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. There are no figures available for Bound Street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value among these streets is Rs 880 per sq.ft, which is the same as the guideline value for Bound Street.

• Blossom's GREEN AGATE: Rs 960 per sq.ft (2024)
• Bilal Nagar: Rs 770 per sq.ft (2024)
• Bharathi Nagar: Rs 880 per sq.ft (2024)
• Bharath Avenue Phase I: Rs 880 per sq.ft (2024)
• Bharath Avenue: Rs 880 per sq.ft (2024)
• Chokkalingam Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Bound Street

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. 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 Bound Street?

The Sub Registrar Office that covers Bound Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Manimangalam A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered alongside the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Bound Street?

The current guideline value of Bound Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, which is a total increase of 64% over this period.

What is the land classification for Bound Street?

Bound Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the registration fees for properties in Bound Street?

The registration fees for properties in Bound Street are based on the guideline value, which is Rs 880 per sq.ft as of 2024. The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Bound Street?

The Sub Registrar Office for Bound Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.