Guideline Value for Bunder Ramanaicken Garden Broadway Part

Bunder Ramanaicken Garden Broadway Part guideline value

The current guideline value of Bunder Ramanaicken Garden Broadway Part is Rs 4,400 per sq.ft, effective from 1 July 2024. This property is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class I Type - I.

How the guideline value of Bunder Ramanaicken Garden Broadway Part has changed

The guideline value for this area has seen several revisions over the years. In 2003, the value was Rs 801 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. By 2012, it had risen to Rs 4,000 per sq.ft, but then decreased to Rs 2,680 per sq.ft in 2017. The value climbed significantly to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002.

From 2017 to 2023, there was a notable increase of 49%, while the value dropped by 33% from 2012 to 2017. The rise from 2007 to 2012 was substantial at 233%, and from 2003 to 2007, the increase was 50%. Overall, from 2003 to 2024, the guideline value has increased by 449%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which aligns with the current guideline value for Bunder Ramanaicken Garden Broadway Part.

• Bunder Ramanaicken Model ‘A’ To ‘I’: Rs 6,000 per sq.ft (2024)
• Bunder Street (Murugappan Street): Rs 8,800 per sq.ft (2024)
• Budha Sahib Street: Rs 4,400 per sq.ft (2024)
• Broadway: Rs 16,500 per sq.ft (2024)
• Bridge Rasa Road: Rs 6,000 per sq.ft (2024)
• Braiyra Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bunder Ramanaicken Garden Broadway Part

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, totaling Rs 3,96,000. 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 Bunder Ramanaicken Garden Broadway Part?

The Bunder Ramanaicken Garden Broadway Part falls under the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Muthiyalpet. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to consider this value during negotiations to ensure compliance with local regulations and to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Bunder Ramanaicken Garden Broadway Part?

The current guideline value of Bunder Ramanaicken Garden Broadway Part 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 801 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 449% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000 in Bunder Ramanaicken Garden Broadway Part, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for properties in Muthiyalpet?

The Sowcarpet Sub Registrar Office handles registrations for properties in Muthiyalpet, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price at which properties can be registered, impacting the stamp duty and registration fees payable during a transaction.