Guideline Value for Bound Street

Bound Street guideline value

The current guideline value of Bound Street in Kadaperi village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 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. In 2007, the value was Rs 1,200 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a significant rise of 67%. However, this value decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value then increased dramatically to Rs 2,000 per sq.ft in 2023, reflecting a rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for Bound Street. Overall, from 2007 to 2024, the guideline value has increased by 83%.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Bound Street's 2024 figure above this median.

• Bukthavatchalam Street: Rs 880 per sq.ft (2024)
• Burma colony: Rs 1,650 per sq.ft (2024)
• Burma Colony 2-nd St: Rs 1,100 per sq.ft (2024)
• Burma Colony 3rd St: Rs 1,100 per sq.ft (2024)
• Bhagavath Singh Street: Rs 1,650 per sq.ft (2024)
• Dhamodharan Street/Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bound Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees Rs 1,98,000. It's 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 details.

Which Sub Registrar Office covers Bound Street?

The Sub Registrar Office that covers Bound Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kadaperi. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, understanding the guideline value ensures that buyers are prepared for the associated costs. It is advisable to verify the current guideline value before proceeding with any real estate deals.

Frequently asked questions

What is the current guideline value of Bound Street?

The current guideline value of Bound Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What is the land classification for Bound Street?

Bound Street is classified as Residential Class I Type - I according to the guidelines set by the local authorities.

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

The Sub Registrar Office for Bound Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is stamp duty calculated for properties in Kadaperi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.