Guideline Value for Loop Road (Bazaar Street)

Loop Road (Bazaar Street) guideline value

The current guideline value of Loop Road (Bazaar Street) in Acharapakkam village is Rs 400 per sq.ft, effective from 1 July 2024. This property falls under the Acchirapakkam SRO and is classified as Residential Special Type - I.

How the guideline value of Loop Road (Bazaar Street) has changed

The guideline value for Loop Road (Bazaar Street) has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, there was a significant decrease in value to Rs 201 per sq.ft in 2017. From 2017 to 2023, the value saw a substantial increase, reaching Rs 400 per sq.ft in 2023, which remained unchanged in the 2024 revision.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 100%.

Guideline values in Acharapakkam

Acharapakkam village has a total of 61 streets under the Acchirapakkam SRO, with guideline values ranging from Rs 250 to Rs 600 per sq.ft. The median guideline value is Rs 400 per sq.ft, which is the same as the current value for Loop Road (Bazaar Street).

• Loop Road: Rs 400 per sq.ft (2024)
• Mada Koil Street Ward 9: Rs 250 per sq.ft (2024)
• Malai Nagar: Rs 400 per sq.ft (2024)
• Markazhi Nagar: Rs 268 per sq.ft (2024)
• Kothandaramar Nagar Ward 3: Rs 350 per sq.ft (2024)
• Kollaimedu Colony: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Loop Road (Bazaar Street)

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the 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 Loop Road (Bazaar Street)?

The Sub Registrar Office that covers Loop Road (Bazaar Street) is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Acharapakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration of a property. Buyers and sellers must be aware of this value as it affects the overall cost of the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Loop Road (Bazaar Street)?

The current guideline value of Loop Road (Bazaar Street) is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, with various increases and decreases in between, including a significant increase of 99% from 2017 to 2023.

What is the land classification for Loop Road (Bazaar Street)?

Loop Road (Bazaar Street) is classified as Residential Special Type - I under the Acchirapakkam SRO.

Where can I find the Acchirapakkam Sub Registrar Office?

The Acchirapakkam Sub Registrar Office is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Acharapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 4,00,000, the stamp duty would be Rs 28,000 at 7%.