Guideline Value for China Bazar Road

China Bazar Road guideline value

The current guideline value of China Bazar Road is Rs 13,000 per sq.ft as per the 2024 revision. This road is located in Muthiyalpet village under the Sowcarpet SRO, classified as Commercial Class I Type - I.

How the guideline value of China Bazar Road has changed

The guideline value for China Bazar Road has seen several revisions over the years. The 2007 revision set the value at Rs 5,500 per sq.ft, which increased to Rs 12,000 per sq.ft in 2012. However, there was a decrease to Rs 8,040 per sq.ft in 2017. The guideline value then rose significantly to Rs 12,000 per sq.ft in 2023, before reaching the current value of Rs 13,000 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 136%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Rs 13,000 per sq.ft for China Bazar Road is above this median.

• Chinna Neikaran Street: Rs 4,400 per sq.ft (2024)
• Chinna Thambi Street: Rs 6,000 per sq.ft (2024)
• Chandirappa Mudali Street: Rs 4,400 per sq.ft (2024)
• Bunder Street (Murugappan Street): Rs 8,800 per sq.ft (2024)
• Bunder Ramanaicken Model ‘A ’To ‘I ’: Rs 6,000 per sq.ft (2024)
• Bunder Ramanaicken Garden Broadway Part: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in China Bazar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,000 per sq.ft, the total guideline value is Rs 1,30,00,000. The stamp duty at 7% amounts to Rs 9,10,000, and the registration fee at 2% is Rs 2,60,000, totaling Rs 11,70,000. It is important to note that 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 China Bazar Road?

The Sub Registrar Office that covers China Bazar Road is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Muthiyalpet. It determines the minimum value at which a property can be registered, influencing the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of China Bazar Road?

The current guideline value of China Bazar Road is Rs 13,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2007 to Rs 13,000 per sq.ft in 2024, with several revisions in between, including Rs 12,000 in 2012 and Rs 8,040 in 2017.

What is the land classification of China Bazar Road?

China Bazar Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for China Bazar Road?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, and is responsible for property registrations in this area.

How is the stamp duty calculated for properties on China Bazar Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,30,00,000 incurs a stamp duty of Rs 9,10,000.