Guideline Value for Bus Stand Road

Bus Stand Road guideline value

The current guideline value of Bus Stand Road in Tharamani village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Adayar SRO and is classified as Residential Class I Type - I.

How the guideline value of Bus Stand Road has changed

The guideline value for Bus Stand Road has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,250 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, marking a significant rise of 140%. However, from 2012 to 2017, the value decreased by 33% to Rs 2,010 per sq.ft. Following this, there was a substantial increase of 49% from 2017 to 2023, bringing the value to Rs 3,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no recorded figures for Bus Stand Road in the years 2002 and 2003.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, placing Bus Stand Road's 2024 figure above this median.

• Buddhar Street: Rs 1,700 per sq.ft (2024)
• Bharathi Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar Yamuna Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Thapathi Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Thamirabarani Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar Saraswathi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bus Stand Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the 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 Bus Stand Road?

The Sub Registrar Office that covers Bus Stand Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Tharamani. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable charges. Buyers should be aware that the duty is assessed based on the higher of the guideline value or the sale price, ensuring that the correct fees are paid to the authorities.

Frequently asked questions

What is the current guideline value of Bus Stand Road?

The current guideline value of Bus Stand Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 164% over the years.

What is the land classification for Bus Stand Road?

Bus Stand Road is classified as Residential Class I Type - I under the Adayar SRO.

What are the stamp duty and registration fees for a property on Bus Stand Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for Bus Stand Road?

The Adayar Sub Registrar Office, which covers Bus Stand Road, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.