Guideline Value for By-Pass Road

By-Pass Road guideline value

The current guideline value of By-Pass Road in Naravarikuppam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Commercial Class I Type - I.

How the guideline value of By-Pass Road has changed

The guideline value for By-Pass Road has undergone several revisions over the years. In 2002, the value was Rs 3,849 per sq.ft, which decreased to Rs 515 per sq.ft in 2003. The value then increased to Rs 700 per sq.ft in 2007, followed by a significant rise to Rs 3,000 per sq.ft in 2012. However, it dropped again to Rs 2,010 per sq.ft in 2017, before climbing to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft.

Between the revisions, there have been notable changes. From 2002 to 2003, the value decreased by 87%. The value increased by 36% from 2003 to 2007, followed by a substantial rise of 329% from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, and increased by 49% from 2017 to 2023. Finally, there was a 10% increase from 2023 to 2024.

Guideline values in Naravarikuppam

Naravarikuppam has a range of guideline values across its 112 streets under the Redhills SRO, with values from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value in this village is Rs 1,650 per sq.ft, placing By-Pass Road's 2024 figure above this median.

• Cheran Street: Rs 1,320 per sq.ft (2024)
• Chothupakkam Road: Rs 3,300 per sq.ft (2024)
• Chothupakkam Salai: Rs 2,200 per sq.ft (2024)
• Chozhan Street: Rs 1,320 per sq.ft (2024)
• Church Street: Rs 1,870 per sq.ft (2024)
• C.K. Manikkam Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in By-Pass Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, resulting in a total of 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 also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers By-Pass Road?

The Sub Registrar Office that covers By-Pass Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Naravarikuppam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations regarding the sale price.

Frequently asked questions

What is the current guideline value of By-Pass Road?

The current guideline value of By-Pass 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 significantly, starting from Rs 3,849 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, with various increases and decreases in between.

What is the stamp duty rate for property in By-Pass Road?

The stamp duty rate for property in By-Pass Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and historical price trends in the area.