Guideline Value for Bus Stand 1st Street

Bus Stand 1st Street guideline value

The current guideline value of Bus Stand 1st Street in Thiruneermalai village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class II Type - I.

How the guideline value of Bus Stand 1st Street has changed

The guideline value of Bus Stand 1st Street has undergone several revisions over the years. In 2003, the value was Rs 62 per sq.ft, which increased significantly to Rs 130 per sq.ft in 2007, marking a change of +110%. The value saw a remarkable rise to Rs 1,206 per sq.ft in 2017, reflecting an increase of +828%. The most recent revision in 2023 set the guideline value at Rs 1,800 per sq.ft, a +49% increase from the previous figure. The current value of Rs 1,980 per sq.ft from the 2024 revision represents a +10% change from 2023.

It is important to note that the register has no figures for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by +3094%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value in this village is Rs 2,420 per sq.ft, placing Bus Stand 1st Street's 2024 figure below that median.

• Bus Stand 2nd Extn.,: Rs 1,980 per sq.ft (2024)
• Bus Stand 2nd Street: Rs 1,980 per sq.ft (2024)
• Chandran Nagar: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 1st Cross Street: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 2nd Cross Street: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 3rd Cross Street: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Bus Stand 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Bus Stand 1st Street?

The Sub Registrar Office that covers Bus Stand 1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Thiruneermalai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bus Stand 1st Street?

The current guideline value of Bus Stand 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 62 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, marking an overall increase of +3094%.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers Bus Stand 1st Street?

The Pammal Sub Registrar Office covers Bus Stand 1st Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value for streets in Thiruneermalai?

The median guideline value for streets in Thiruneermalai is Rs 2,420 per sq.ft, with Bus Stand 1st Street's value being below this median.