Guideline Value for COLLECTOR NAGAR (Bazzar Road)

COLLECTOR NAGAR (Bazzar Road) guideline value

The current guideline value of COLLECTOR NAGAR (Bazzar Road) is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of COLLECTOR NAGAR (Bazzar Road) has changed

The guideline value of COLLECTOR NAGAR (Bazzar Road) has undergone several revisions over the years. In 2012, the guideline value was Rs 9,000 per sq.ft, which decreased to Rs 6,030 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 9,000 per sq.ft, representing a rise of 49%. The most recent revision in 2024 has set the value at Rs 9,900 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median guideline value for these streets is Rs 3,800 per sq.ft, placing COLLECTOR NAGAR (Bazzar Road) above this median.

• CLASSIC APARTMENTS (Estate Road): Rs 9,900 per sq.ft (2024)
• Cholahil Nagar (Pillaiyar Koil Street): Rs 5,400 per sq.ft (2024)
• Chennai Flats: Rs 6,600 per sq.ft (2024)
• Chengal Choolai Pallam (Padikuppam Road): Rs 5,400 per sq.ft (2024)
• Dr.Ambedkar Nagar "anbu Street": Rs 2,500 per sq.ft (2024)
• Dr.Ambedkar Nagar "bharathi Street": Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in COLLECTOR NAGAR (Bazzar Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers COLLECTOR NAGAR (Bazzar Road)?

The Sub Registrar Office covering COLLECTOR NAGAR (Bazzar Road) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Padi. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

Buyers and sellers must be aware that the guideline value is subject to periodic revisions, which can affect the overall cost of transactions. It is advisable to check the latest guideline values before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of COLLECTOR NAGAR (Bazzar Road)?

The current guideline value of COLLECTOR NAGAR (Bazzar Road) is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 9,000 per sq.ft in 2012 to Rs 6,030 per sq.ft in 2017, then to Rs 9,000 per sq.ft in 2023, and finally to Rs 9,900 per sq.ft in 2024.

What is the land classification of COLLECTOR NAGAR (Bazzar Road)?

COLLECTOR NAGAR (Bazzar Road) is classified as Residential Special Type - II.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in COLLECTOR NAGAR (Bazzar Road)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 6,93,000.