Guideline Value for Cochrane Basin Road

Cochrane Basin Road guideline value

The current guideline value of Cochrane Basin Road is Rs 1,300 per sq.ft, effective from 1 July 2024. This road is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Cochrane Basin Road has changed

The guideline value for Cochrane Basin Road has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value decreased to Rs 804 per sq.ft, reflecting a decline of 33%. The value then saw a significant increase to Rs 1,200 per sq.ft in 2023, which was a 49% rise from the previous figure.

As of the 2024 revision, the guideline value stands at Rs 1,300 per sq.ft, which is an 8% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 117%. It is important to note that the register does not have figures for Cochrane Basin Road for the years 2002 and 2003.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft as of 2024. The median guideline value in the village is Rs 1,600 per sq.ft, placing Cochrane Basin Road's 2024 figure below this median.

• Cockran Basin 2nd Lane: Rs 1,300 per sq.ft (2024)
• Cockran Basin 3rd Lane: Rs 1,300 per sq.ft (2024)
• Cockrin Basin Lane: Rs 1,300 per sq.ft (2024)
• Cokran Basin 4th Lane: Rs 1,300 per sq.ft (2024)
• Company Chathiram Street: Rs 1,300 per sq.ft (2024)
• Connection Road in between Nehru Nagar to Nethaji Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Cochrane Basin Road

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, this amounts to Rs 1,17,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cochrane Basin Road?

The Sub Registrar Office that covers Cochrane Basin Road is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value helps ensure that the transaction is recorded at a fair value, thereby facilitating the legal transfer of property ownership. It is crucial for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Cochrane Basin Road?

The current guideline value of Cochrane Basin Road is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What is the land classification for Cochrane Basin Road?

The land classification for Cochrane Basin Road is Residential Class II Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations for Cochrane Basin Road?

The Royapuram Sub Registrar Office handles property registrations for Cochrane Basin Road, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.