Guideline Value for Bus Stand 2nd Extn.,

Bus Stand 2nd Extn., guideline value

The current guideline value for Bus Stand 2nd Extn. in Thiruneermalai village is Rs 1,980 per sq.ft, effective from 1 July 2024. This property falls under the Pammal SRO and is classified as Residential Class II Type - I.

How the guideline value of Bus Stand 2nd Extn., has changed

The guideline value for Bus Stand 2nd Extn. has undergone several revisions over the years. Starting from Rs 62 per sq.ft in 2003, it increased to Rs 130 per sq.ft in 2007, marking a 110% rise. The value saw a significant jump to Rs 1,206 per sq.ft in 2017, which is an increase of 828%. The 2023 revision set the value at Rs 1,800 per sq.ft, representing a 49% increase from the previous revision. The current 2024 revision reflects a further increase of 10%, bringing the value to Rs 1,980 per sq.ft.

The register has no figures for the years 2002 and 2012 for this street. Overall, the guideline value has increased by 3094% from Rs 62 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, indicating that the guideline value for Bus Stand 2nd Extn. is below this median.

• Bus Stand 1st Street: 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 2nd Extn.,

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty, charged at 7%, would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. 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 more details.

Which Sub Registrar Office covers Bus Stand 2nd Extn.,?

The Sub Registrar Office that covers Bus Stand 2nd Extn. is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the minimum value of the property for registration purposes. Buyers and sellers must be aware of this value, as it influences the stamp duty and registration fees applicable during the transaction.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the transaction is accurately recorded and taxed according to the prevailing regulations.

Frequently asked questions

What is the current guideline value for Bus Stand 2nd Extn.?

The current guideline value for Bus Stand 2nd Extn. 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 changed significantly from Rs 62 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, reflecting a total increase of 3094% over this period.

What are the stamp duty and registration fees for properties in Bus Stand 2nd Extn.?

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 the area of Bus Stand 2nd Extn.?

The Pammal Sub Registrar Office covers Bus Stand 2nd Extn., located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the classification of land in Bus Stand 2nd Extn.?

The land in Bus Stand 2nd Extn. is classified as Residential Class II Type - I, indicating its designated use for residential purposes.