Guideline Value for Bye Pass Road

Bye Pass Road guideline value

The current guideline value of Bye Pass Road in Sholavaram village is Rs 1,650 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 Bye Pass Road has changed

The guideline value for Bye Pass Road has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure changed to Rs 1,005 per sq.ft in 2017, representing a decrease of 33%. The value then increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street in the register.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Bye Pass Road is above this median, indicating its higher valuation compared to many other streets in the area.

• Chengalamman Avenue: Rs 550 per sq.ft (2024)
• Chengalamman Garden: Rs 550 per sq.ft (2024)
• Chengalamman Nagar: Rs 550 per sq.ft (2024)
• Chengalamman Nagar Annex: Rs 770 per sq.ft (2024)
• Chengalamman Nagar Extn.: Rs 550 per sq.ft (2024)
• Chengallamman Nagar: Rs 550 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the 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?

The Bye Pass Road falls under the jurisdiction of 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 information.

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

The guideline value is a crucial factor in the registration process of property transactions in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to assess the applicable duties, ensuring that the transaction is recorded at a value that reflects the current market standards set by the Registration Department.

Frequently asked questions

What is the current guideline value of Bye Pass Road?

The current guideline value of Bye Pass Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Bye Pass Road?

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

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 16,50,000, the total fees would be Rs 1,48,500.

Which office handles the registration for Bye Pass Road?

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