Guideline Value for Bye Pass Road 150ft

Bye Pass Road 150ft guideline value

The current guideline value of Bye Pass Road 150ft is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Bye Pass Road 150ft has changed

The guideline value for Bye Pass Road 150ft has seen several revisions over the years. In 2012, the value was Rs 12,000 per sq.ft, which decreased to Rs 8,040 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 12,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 13,200 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for Bye Pass Road in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Bye Pass Road 150ft is above this median.

• Bye Pass Road -100 feet: Rs 13,200 per sq.ft (2024)
• Canara Bank Lane Sarathi Nagar: Rs 13,200 per sq.ft (2024)
• Cart Track Lane: Rs 4,400 per sq.ft (2024)
• Cart Track Road: Rs 4,400 per sq.ft (2024)
• Cart Track Road (Vandikaran Street): Rs 4,400 per sq.ft (2024)
• Brindhavan Nagar Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bye Pass Road 150ft

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total cost to Rs 11,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bye Pass Road 150ft?

The Bye Pass Road 150ft falls under the jurisdiction of 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 information.

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

The guideline value is a crucial factor in the registration of property transactions in Velachery. It serves as a benchmark for determining 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 in assessing the fair value of the property. Buyers and sellers must consider this value as it directly influences the financial aspects of the transaction, including the applicable taxes and fees.

Frequently asked questions

What is the current guideline value of Bye Pass Road 150ft?

The current guideline value of Bye Pass Road 150ft is Rs 13,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2012 to Rs 8,040 per sq.ft in 2017, then back to Rs 12,000 per sq.ft in 2023, and finally to Rs 13,200 per sq.ft in 2024.

What is the land classification of Bye Pass Road 150ft?

Bye Pass Road 150ft is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the stamp duty rates for property in Bye Pass Road 150ft?

The stamp duty rate for property transactions in Bye Pass Road 150ft is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

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