Guideline Value for Bus Terminus Road

Bus Terminus Road guideline value

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

How the guideline value of Bus Terminus Road has changed

In the 2017 revision, the guideline value for Bus Terminus Road was Rs 2,010 per sq.ft. The most recent revision in 2024 saw an increase of 64%, bringing the current guideline value to Rs 3,300 per sq.ft. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

From the 2017 to the 2024 revision, the increase reflects a significant change in the valuation for this area. The guideline value has moved from Rs 2,010 to Rs 3,300, indicating a notable rise in property valuation over this period.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Bus Terminus Road's value above this median.

• Brindavan Street, Sai Ram Avenue: Rs 3,850 per sq.ft (2024)
• Brindavan Street, Balaiah Nagar: Rs 3,850 per sq.ft (2024)
• Brindavan Street, Balaiah Garden, Srinivasa Nagar: Rs 3,850 per sq.ft (2024)
• Brindavan Street, Balaiah Garden: Rs 3,850 per sq.ft (2024)
• Brindavan Street: Rs 3,850 per sq.ft (2024)
• Central Land Margeni Bank Ltd: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bus Terminus 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, while the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Bus Terminus Road?

The Sub Registrar Office that covers Bus Terminus Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process of property transactions in Madipakkam-1. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable, ensuring that the transaction is recorded at a fair value as per government standards.

It is essential for buyers and sellers to be aware of the guideline value as it directly affects the overall cost of property transactions. Accurate knowledge of the guideline value can help in better financial planning during the buying or selling process.

Frequently asked questions

What is the current guideline value of Bus Terminus Road?

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

How much has the guideline value changed since the last revision?

Since the last revision in 2017, the guideline value has increased by 64%, moving from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft.

What is the land classification for Bus Terminus Road?

Bus Terminus Road is classified as Residential Class I Type - II under the current guideline value register.

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

The Sub Registrar Office for Bus Terminus Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the property is registered at a value that reflects the government's valuation standards.