Guideline Value for DISTRICT BOAG ROAD

District Boag Road guideline value

The current guideline value of District Boag Road is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of District Boag Road has changed

The guideline value for District Boag Road has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 2,679 per sq.ft. This figure increased to Rs 2,963 per sq.ft in the 2003 revision, marking a rise of 11%. The 2007 revision saw a substantial jump to Rs 3,000 per sq.ft, a change of 1%. The 2012 revision brought the value to Rs 10,000 per sq.ft, reflecting a notable increase of 233% from the previous year. However, in the 2017 revision, the value dropped to Rs 6,700 per sq.ft, which was a decrease of 33%.

In the subsequent revisions, the guideline value continued to rise. The 2023 revision set the value at Rs 10,000 per sq.ft, and the most recent 2024 revision increased it further to Rs 11,000 per sq.ft, marking a rise of 10%. Overall, from 2002 to 2024, the guideline value has increased by 311%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, placing District Boag Road's 2024 value above this median.

• Dharmambal Street: Rs 7,150 per sq.ft (2024)
• Dhanalakshmi Avenue: Rs 7,150 per sq.ft (2024)
• Devendra Nagar: Rs 7,150 per sq.ft (2024)
• Duraisamy Street: Rs 7,150 per sq.ft (2024)
• East Coastal Road: Rs 12,650 per sq.ft (2024)
• East Mada Veethi: Rs 7,160 per sq.ft (2024)

Stamp duty and registration fee for property in District Boag Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty, calculated at 7%, would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers District Boag Road?

The Sub Registrar Office that covers District Boag Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thiruvanmiyur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

It is important for both buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Proper understanding of these values helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of District Boag Road?

The current guideline value of District Boag Road is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 2,679 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 311%.

What is the median guideline value in Thiruvanmiyur?

The median guideline value in Thiruvanmiyur is Rs 9,900 per sq.ft, with District Boag Road's value being above this median.

What are the stamp duty rates for property in District Boag Road?

The stamp duty for property in District Boag Road is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for District Boag Road?

The Sub Registrar Office for District Boag Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.