Guideline Value for Chennai Bangalore Main Road

Chennai Bangalore Main Road guideline value

The current guideline value of Chennai Bangalore Main Road is Rs 500 per sq.ft, effective from 1 July 2024. This road is located in Selvazhimagalam village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Chennai Bangalore Main Road has changed

Looking back at the revisions, the guideline value for Chennai Bangalore Main Road has undergone several changes. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 figure of Rs 335 per sq.ft represented a decrease of 33% from the 2012 value. In 2023, the value again stabilized at Rs 500 per sq.ft, and the 2024 revision has kept it at Rs 500 per sq.ft, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 to 2024 figures, the guideline value has remained constant, with no overall change. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selvazhimagalam

In Selvazhimagalam, there are 11 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 126 to Rs 500 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Chennai Bangalore Main Road is above this median.

• Bharathiyar Street: Rs 200 per sq.ft (2024)
• Bajanai Kovil Street: Rs 200 per sq.ft (2024)
• Amman Kovil Street: Rs 200 per sq.ft (2024)
• Jambodai Kurukku Street: Rs 300 per sq.ft (2024)
• Jambodai Street: Rs 300 per sq.ft (2024)
• Kodi Street: Rs 200 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 guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, while the registration fee at 2% would be Rs 10,000, bringing the total charges to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selvazhimagalam. It determines the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with fluctuations in previous years, including a decrease in 2017 and a significant increase from 2017 to 2023.

What is the median guideline value in Selvazhimagalam?

The median guideline value in Selvazhimagalam is Rs 200 per sq.ft, with values for Chennai Bangalore Main Road being above this median.

What are the stamp duty and registration fees for property on Chennai Bangalore Main Road?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which office handles registrations for Chennai Bangalore Main Road?

The Sunguvarchattram Sub Registrar Office handles registrations for Chennai Bangalore Main Road, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.