Guideline Value for Bus Stand

Bus Stand guideline value

The current guideline value for Bus Stand in 2nd Division village is Rs 5,500 per sq.ft, effective from 1 July 2024. This area falls under the Kanchipuram Joint IV SRO and is classified as Commercial Class I Type - II.

How the guideline value of Bus Stand has changed

The guideline value for Bus Stand has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision. Notably, there are no figures for the years 2002 and 2003 in the register for this street.

In terms of percentage changes, the value increased by 400% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has risen by 450% from 2007 to 2024.

Guideline values in 2nd Division

In the 2nd Division village, there are 101 streets under the Kanchipuram Joint IV SRO, with the 2024 guideline values ranging from Rs 800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, positioning Bus Stand's current value above this median.

• Chairman A.K.Thangavel Street: Rs 880 per sq.ft (2024)
• Bhavapet Street: Rs 1,100 per sq.ft (2024)
• Bhavapet Back Street: Rs 1,100 per sq.ft (2024)
• Daivasigamani Street: Rs 3,850 per sq.ft (2024)
• Darga Santhu: Rs 5,500 per sq.ft (2024)
• Desichettypalayam Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bus Stand

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty charged at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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?

The Sub Registrar Office covering Bus Stand is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value plays a crucial role in the registration process of property transactions in 2nd Division. It serves as a benchmark for determining the minimum value of a property, ensuring that the sale price reflects the market conditions as set by the Registration Department.

When registering a property, the guideline value is used to calculate applicable fees, including stamp duty and registration fees. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Bus Stand?

The current guideline value of Bus Stand is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000.

Where is the Kanchipuram Joint IV SRO located?

The Kanchipuram Joint IV Sub Registrar Office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

What is the classification of land in Bus Stand?

Bus Stand is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.