Guideline Value for Chennai Bangalore Main Road

Chennai Bangalore Main Road guideline value

The current guideline value of Chennai Bangalore Main Road in Vellanthangal village is Rs 1,200 per sq.ft, effective from 1 July 2024. This falls under the jurisdiction of the Sriperumpudur SRO and is classified as Commercial Class I Type - I land.

How the guideline value of Chennai Bangalore Main Road has changed

Looking at the historical revisions, the guideline value for this street was Rs 1,200 per sq.ft in 2012, which remained unchanged in the 2023 revision. The 2017 revision saw a significant increase to Rs 804 per sq.ft, marking a 49% rise from the previous figure. However, there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but from 2012 to 2024, it has remained stable at Rs 1,200 per sq.ft. The most recent revision from 2023 to 2024 shows no change, maintaining the guideline value at Rs 1,200 per sq.ft.

Guideline values in Vellanthangal

In Vellanthangal, there are 9 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 300 to Rs 3,300 per sq.ft. The median for these streets is Rs 650 per sq.ft, placing the Chennai Bangalore Main Road guideline value above this median.

• J.S.R. Nagar: Rs 300 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 400 per sq.ft (2024)
• Rajalakshmi Nagar Part III: Rs 400 per sq.ft (2024)
• Rajeswari Nagar: Rs 400 per sq.ft (2024)
• Sri Dhanalaxmi Nagar: Rs 650 per sq.ft (2024)
• Symphony Phase -I: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chennai Bangalore Main Road

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that stamp 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 Chennai Bangalore Main Road?

The Chennai Bangalore Main Road is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vellanthangal, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duty are calculated based on the guideline value.

When registering a property, it is essential to ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration process is facilitated through the Sriperumpudur SRO, where all relevant documentation must be submitted.

Frequently asked questions

What is the current guideline value of Chennai Bangalore Main Road?

The current guideline value of Chennai Bangalore Main Road is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft in 2023 and 2024, while it was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Chennai Bangalore Main Road?

The land classification for Chennai Bangalore Main Road is Commercial Class I Type - I, which indicates its commercial usage potential.

What are the stamp duty and registration fees for a property on this road?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000, and the registration fee would be Rs 24,000, totaling Rs 1,08,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Chennai Bangalore Main Road?

The Sriperumpudur Sub Registrar Office handles registrations for properties on Chennai Bangalore Main Road. The office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.