Guideline Value for GULABCHAND BORA STREET

Gulabchand Bora Street guideline value

The current guideline value of Gulabchand Bora Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Gulabchand Bora Street has changed

The guideline value for Gulabchand Bora Street has seen several revisions over the years. In 2002, the guideline value was Rs 589 per sq.ft. This increased to Rs 763 per sq.ft in 2003, marking a change of +30%. By 2007, the value rose significantly to Rs 800 per sq.ft, which was a +5% increase. The 2012 revision brought the value back up to Rs 4,000 per sq.ft, reflecting a substantial increase of +400% from the previous revision. However, in 2017, the value decreased to Rs 2,680 per sq.ft, showing a decline of -33%.

The most recent revisions show an increase in value. The 2023 revision set the guideline value at Rs 4,000 per sq.ft, which then increased to Rs 4,400 per sq.ft in 2024, amounting to a +10% change. Overall, from 2002 to 2024, the guideline value has increased by +647%.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Gulabchand Bora Street at this median value.

• Hospital Road: Rs 6,050 per sq.ft (2024)
• Hospital Road 1st Lane: Rs 5,500 per sq.ft (2024)
• Hospital Road 2nd Lane: Rs 5,500 per sq.ft (2024)
• Ilaiyalvar Koil Street: Rs 4,400 per sq.ft (2024)
• Geenis Road: Rs 8,800 per sq.ft (2024)
• Gandhi Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gulabchand Bora Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value totals Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gulabchand Bora Street?

The Sub Registrar Office that covers Gulabchand Bora Street is the Chennai South Joint II 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 Saidapet

The guideline value serves as a benchmark for property transactions in Saidapet. When buying or selling property, this value is used to determine the stamp duty and registration fees that need to be paid during the registration process.

It is essential to understand that the guideline value is set by the government and is subject to periodic revisions. Hence, it is crucial for buyers and sellers to stay updated on the current values to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Gulabchand Bora Street?

The current guideline value of Gulabchand Bora Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 589 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +647% over the years.

What is the land classification for Gulabchand Bora Street?

The land classification for Gulabchand Bora Street is Residential Class II Type - II.

How is the stamp duty calculated for properties in Gulabchand Bora Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000.

Where can I find the Sub Registrar Office for Gulabchand Bora Street?

The Sub Registrar Office for Gulabchand Bora Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.