Guideline Value for Chennai Bangaluru main road

Chennai Bangaluru main road guideline value

The current guideline value of Chennai Bangaluru main road in Nemili_B village is Rs 600 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Chennai Bangaluru main road has changed

The guideline value for Chennai Bangaluru main road has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 1,200 per sq.ft, which was then reduced by 50% to Rs 600 per sq.ft in the 2024 revision.

This significant drop in the guideline value reflects the changes made in the latest revision. The current figure of Rs 600 per sq.ft is now established as the benchmark for transactions involving this property.

Guideline values in Nemili_B

In Nemili_B, there are 97 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing the Chennai Bangaluru main road's 2024 figure above this median.

• Chellaperumal Nagar: Rs 300 per sq.ft (2024)
• Chowndhira Panidan Nagar: Rs 300 per sq.ft (2024)
• Devi Karumariamman Nagar: Rs 250 per sq.ft (2024)
• Bharathiyar Street: Rs 150 per sq.ft (2024)
• Bharathi Nagar: Rs 200 per sq.ft (2024)
• Bhagavathy Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Chennai Bangaluru main road

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total fees together Rs 54,000. It is important to note that the 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 Chennai Bangaluru main road?

The Chennai Bangaluru 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 details.

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

When buying or selling property in Nemili_B, the guideline value is a crucial factor in determining the stamp duty and registration fees. It serves as a reference point for both buyers and sellers during the registration process.

The guideline value helps ensure that the property is registered at a fair price, reflecting the current market conditions. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value for Chennai Bangaluru main road?

The current guideline value for Chennai Bangaluru main road in Nemili_B is Rs 600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value changed from Rs 1,200 per sq.ft in 2023 to Rs 600 per sq.ft in 2024, marking a 50% reduction.

What is the classification of the land on Chennai Bangaluru main road?

The land classification for Chennai Bangaluru main road is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for Chennai Bangaluru main road?

The registration office for Chennai Bangaluru main road is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Nemili_B?

Stamp duty for properties in Nemili_B is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 at the rate of 7%.