Guideline Value for Mayor Basudev Street

Mayor Basudev Street guideline value

The current guideline value of Mayor Basudev Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Special Type - II.

How the guideline value of Mayor Basudev Street has changed

The guideline value for Mayor Basudev Street has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it saw a decrease to Rs 1,675 per sq.ft in the 2017 revision. The most recent revision in 2024 has raised the guideline value to Rs 2,700 per sq.ft, marking an increase of 61% from the 2017 figure.

In terms of percentage changes, the value increased by 108% from 2007 to 2012, but then decreased by 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has risen by 125%. The register has no figures for the years 2002, 2003, and 2023 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Mayor Basudev Street's 2024 value above that median.

• M.C.M. Garden 1st Street: Rs 1,600 per sq.ft (2024)
• M.C.M. Garden 2nd Street: Rs 1,600 per sq.ft (2024)
• M.C.M. Garden 3rd Street: Rs 1,600 per sq.ft (2024)
• Meenambal Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Meenambal Nagar 3rd Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mayor Basudev Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mayor Basudev Street?

The Sub Registrar Office that covers Mayor Basudev Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When you register a property, the guideline value is compared to the sale price, and the duty is charged on the higher of the two amounts. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Mayor Basudev Street?

The current guideline value of Mayor Basudev Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting a total increase of 125% over this period.

What is the registration fee for property in Mayor Basudev Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 27,00,000, the registration fee would be Rs 54,000.

Where can I find the Sub Registrar Office for Mayor Basudev Street?

The Sub Registrar Office covering Mayor Basudev Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the median guideline value for streets in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, with Mayor Basudev Street's value being above this median at Rs 2,700 per sq.ft.