Guideline Value for Bye pass road

Bye pass road guideline value

The current guideline value of Bye pass road is Rs 3,520 per sq.ft, effective from 1 July 2024. This road is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Industries 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 2007, the value was Rs 1,370 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012, marking a rise of 134%. However, it then dropped to Rs 2,144 per sq.ft in 2017, a decrease of 33%. The value surged again to Rs 3,200 per sq.ft in 2023, and most recently, it has increased to Rs 3,520 per sq.ft in 2024, reflecting a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 157%, showcasing a significant change in the valuation over this period. The revisions indicate fluctuations in the guideline value, with the latest figure being the highest recorded for Bye pass road.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO with a 2024 guideline value range from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, making the current value of Bye pass road above this median.

• B.V.R.Nagar: Rs 2,200 per sq.ft (2024)
• Bunkingham road: Rs 2,200 per sq.ft (2024)
• Chakramangala Nagar: Rs 2,740 per sq.ft (2024)
• Bradees street: Rs 2,740 per sq.ft (2024)
• Chetti street: Rs 3,250 per sq.ft (2024)
• Chinnamasudhi street: Rs 2,740 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 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total fees together to Rs 3,16,800. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price. For more information, 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 Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the registration process is standardized and transparent, benefiting both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Bye pass road?

The current guideline value of Bye pass road is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,370 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

What are the other streets in Poonthamallee with their guideline values?

Other streets in Poonthamallee include B.V.R.Nagar and Bunkingham road at Rs 2,200 per sq.ft, Chakramangala Nagar and Bradees street at Rs 2,740 per sq.ft, Chetti street at Rs 3,250 per sq.ft, and Chinnamasudhi street also at Rs 2,740 per sq.ft.

What is the stamp duty rate for properties in Bye pass road?

The stamp duty rate for properties in Bye pass road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Bye pass road located?

The Sub Registrar Office for Bye pass road is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.