Guideline Value for Bungalow street

Bungalow street guideline value

The current guideline value of Bungalow street in Sethupattu village is Rs 300 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as a New House Site Type -III (Approved Lay-Out).

How the guideline value of Bungalow street has changed

In the 2012 revision, the guideline value for Bungalow street was set at Rs 300 per sq.ft. This figure remained unchanged in the 2017 revision, where it was still Rs 300 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 300 per sq.ft in 2023. The 2024 revision maintained this figure, resulting in a 0% change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, comparing the 2012 and 2024 revisions, the guideline value has remained constant at Rs 300 per sq.ft, indicating no change over this period. The fluctuations observed in the intervening years highlight the variability in property values in the region.

Guideline values in Sethupattu

In Sethupattu, there are 23 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,500 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which is equal to the current guideline value for Bungalow street.

• Dr.Abdul kalam nagar: Rs 200 per sq.ft (2024)
• Anna Nagar -II: Rs 400 per sq.ft (2024)
• Ambani Nagar: Rs 200 per sq.ft (2024)
• Green City: Rs 1,500 per sq.ft (2024)
• Highway Avenue: Rs 200 per sq.ft (2024)
• Mahalakshmi Nagar (Phase-I) (EDEN GARDEN): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bungalow street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty is charged at 7%, resulting in Rs 21,000, while the registration fee at 2% amounts to Rs 6,000. Together, the total fees would be Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Bungalow street?

The Sub Registrar Office that covers Bungalow street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Sethupattu. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

During the registration process, the guideline value helps in establishing a fair transaction price. It serves as a benchmark for both buyers and sellers, ensuring transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value for Bungalow street?

The current guideline value for Bungalow street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bungalow street has remained at Rs 300 per sq.ft from 2012 to 2024, with a significant increase of 49% from 2017 to 2023. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Bungalow street?

Bungalow street is classified as a New House Site Type -III (Approved Lay-Out), which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Bungalow street?

The Sub Registrar Office for Bungalow street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Bungalow street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 3,00,000 would incur a stamp duty of Rs 21,000 at a rate of 7%.