Guideline Value for Bypass Road

Bypass Road guideline value

The current guideline value of Bypass Road in Thiruvallur village is Rs 3,300 per sq.ft, effective from 1 July 2024. This property falls under the Tiruvallur Joint 1 SRO and is classified as Residential Special Type - V.

How the guideline value of Bypass Road has changed

The guideline value for Bypass Road has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure decreased to Rs 2,010 per sq.ft in 2017. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. The register has no figure for the years 2002 and 2003.

Between the revisions, the changes are notable. From 2007 to 2012, there was a remarkable increase of 650%. However, the value dropped by 33% from 2012 to 2017. The subsequent increase from 2017 to 2023 was 49%, followed by a 10% rise from 2023 to 2024. Overall, the guideline value has increased by 725% from 2007 to 2024.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Bypass Road is above this median.

• Chekkadi Street: Rs 2,200 per sq.ft (2024)
• Bharathiyar Street: Rs 1,100 per sq.ft (2024)
• Cinema lane: Rs 1,650 per sq.ft (2024)
• Began Street: Rs 1,100 per sq.ft (2024)
• Bazar Street: Rs 3,300 per sq.ft (2024)
• Barathidasan Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bypass Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total fees to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bypass Road?

The Sub Registrar Office that covers Bypass Road is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thiruvallur. It determines the minimum price at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the buyer must ensure that the sale price meets or exceeds the guideline value. This ensures compliance with local regulations and helps in the proper assessment of taxes associated with the transaction.

Frequently asked questions

What is the current guideline value of Bypass Road?

The current guideline value of Bypass 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 increased from Rs 400 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 725% over this period.

What are the stamp duty and registration fees for a property on Bypass Road?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Bypass Road?

The Tiruvallur Joint 1 Sub Registrar Office covers Bypass Road, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the land classification of Bypass Road?

Bypass Road is classified as Residential Special Type - V under the local land classification system.