Guideline Value for Bye Pass Road

Bye Pass Road guideline value

The current guideline value of Bye Pass Road in Pullilyon village, under the Redhills SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Bye Pass Road has changed

The guideline value for Bye Pass Road has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 700 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 186% rise. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The subsequent revisions saw an increase, with the 2023 value reaching Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in 2024, which is a 10% rise from the previous year. The register does not have figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 214%. The changes between the revisions highlight the fluctuations in property values over time, with significant increases in certain periods and a decrease in others.

Guideline values in Pullilyon

In Pullilyon village, there are 77 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 700 per sq.ft, making Bye Pass Road's 2024 figure of Rs 2,200 per sq.ft notably above that median.

• Bhathrakaliamman Nagar: Rs 770 per sq.ft (2024)
• C.R.P. Nagar: Rs 770 per sq.ft (2024)
• Devi Nagar: Rs 440 per sq.ft (2024)
• Dhargas Road: Rs 550 per sq.ft (2024)
• Balaji Garden Annexe - II: Rs 770 per sq.ft (2024)
• Balaji Garden Annex 1: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Bye Pass Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bye Pass Road?

The Sub Registrar Office that covers Bye Pass Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when it comes to property registration in Pullilyon. It serves as a benchmark for determining the stamp duty and registration fees applicable during a property transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their property dealings.

When a property is bought or sold, the guideline value is used to calculate the stamp duty, which is a percentage of the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Bye Pass Road?

The current guideline value of Bye Pass Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

What is the median guideline value in Pullilyon?

The median guideline value in Pullilyon is Rs 700 per sq.ft, with Bye Pass Road's value being above this median at Rs 2,200 per sq.ft.

What are the stamp duty and registration fees for property in Bye Pass Road?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Bye Pass Road?

The Redhills Sub Registrar Office handles property registrations for Bye Pass Road, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.