Guideline Value for Bundhar Garden Main Street

Bundhar Garden Main Street guideline value

The current guideline value of Bundhar Garden Main Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Commercial Class I Type - II.

How the guideline value of Bundhar Garden Main Street has changed

Over the years, the guideline value of Bundhar Garden Main Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,000 per sq.ft, which increased dramatically to Rs 3,600 per sq.ft in 2012, marking a rise of 260%. However, from 2012 to 2017, the value dropped to Rs 2,412 per sq.ft, representing a decrease of 33%. The value then rose again to Rs 3,600 per sq.ft in the 2023 revision, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an 8% increase.

Additionally, the overall change from 2007 to 2024 shows an increase of 290%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Siruvallur

In Siruvallur village, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 6,600 per sq.ft, with a median value of Rs 1,900 per sq.ft. Bundhar Garden Main Street's 2024 guideline value is above this median.

• Bundhar Garden Cross Street: Rs 3,300 per sq.ft (2024)
• Bundhar Garden 3rd Street: Rs 3,600 per sq.ft (2024)
• Bundhar Garden 2nd Street: Rs 3,600 per sq.ft (2024)
• Bundhar Garden 1st Street: Rs 3,600 per sq.ft (2024)
• Carpenter Street: Rs 1,900 per sq.ft (2024)
• Chengalvarayan Lane: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bundhar Garden Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. 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 details.

Which Sub Registrar Office covers Bundhar Garden Main Street?

The Bundhar Garden Main Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your specific SRO, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Siruvallur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value as per government standards.

When a property is sold, the guideline value helps in determining the official price for registration purposes. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bundhar Garden Main Street?

The current guideline value of Bundhar Garden Main Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,000 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 290% over the years.

What is the land classification for Bundhar Garden Main Street?

Bundhar Garden Main Street is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Bundhar Garden Main Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 at 7%.