Guideline Value for Bridge Rasa Road

Bridge Rasa Road guideline value

The current guideline value of Bridge Rasa Road is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Special Type - I.

How the guideline value of Bridge Rasa Road has changed

Over the years, the guideline value of Bridge Rasa Road has seen several revisions. The earliest recorded figure is from 2003, where it stood at Rs 1,554 per sq.ft. This increased to Rs 2,000 per sq.ft in 2007, marking a rise of 29%. In 2012, the value rose significantly to Rs 5,500 per sq.ft, reflecting a 175% increase. However, it then dropped to Rs 3,685 per sq.ft in 2017, a decrease of 33%. The value continued to rise, reaching Rs 5,500 per sq.ft in 2023, and finally increasing to Rs 6,000 per sq.ft in 2024, which is a 9% increase.

The guideline value register does not have a figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 286%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO, with 2024 guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, positioning Bridge Rasa Road's 2024 figure above that median.

• Braiyra Street: Rs 4,400 per sq.ft (2024)
• Boosa Street: Rs 3,800 per sq.ft (2024)
• Bommu Chetty Street: Rs 4,400 per sq.ft (2024)
• Broadway: Rs 16,500 per sq.ft (2024)
• Budha Sahib Street: Rs 4,400 per sq.ft (2024)
• Bunder Ramanaicken Garden Broadway Part: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bridge Rasa Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value is Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total fees together to Rs 5,40,000. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Bridge Rasa Road?

The Sub Registrar Office that covers Bridge Rasa Road is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Muthiyalpet. It is used to determine the stamp duty and registration fees that need to be paid during the registration of property transactions. Buyers and sellers must adhere to these values to ensure compliance with local regulations.

When purchasing property, the guideline value will be considered to ascertain the minimum value of the property for registration purposes. This ensures transparency and helps in the assessment of taxes owed during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Bridge Rasa Road?

The current guideline value of Bridge Rasa Road is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,554 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 286% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Bridge Rasa Road's 2024 figure being above this median.

What fees are associated with buying property on Bridge Rasa Road?

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

Where is the Sub Registrar Office for Bridge Rasa Road?

The Sub Registrar Office for Bridge Rasa Road is located at No.11, Davidson Street, Sowcarpet, Chennai-01.