Guideline Value for N.S.C. Bose Road

N.S.C. Bose Road guideline value

The current guideline value of N.S.C. Bose Road in Muthiyalpet village is Rs 16,500 per sq.ft, effective from 1 July 2024. This area falls under the Sowcarpet SRO and is classified as Commercial Special Type - I.

How the guideline value of N.S.C. Bose Road has changed

The guideline value for N.S.C. Bose Road has seen significant changes over the years. In 2003, the guideline value was Rs 4,833 per sq.ft, which then increased to Rs 5,500 per sq.ft in 2007. Following this, the value jumped to Rs 15,000 per sq.ft in 2012, but then decreased to Rs 10,050 per sq.ft in 2017. The value rose again to Rs 15,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 16,500 per sq.ft. The register has no figure for the year 2002 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall increase from 2003 to 2024 is 241%, reflecting the changing dynamics of the area.

Guideline values in Muthiyalpet

Muthiyalpet contains 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value in this village is Rs 4,400 per sq.ft, making N.S.C. Bose Road's 2024 figure significantly above this median.

• North Wall Road: Rs 5,500 per sq.ft (2024)
• North Davidson Street: Rs 6,600 per sq.ft (2024)
• Old Jail Road: Rs 4,900 per sq.ft (2024)
• Padavattamman Koil Street: Rs 5,500 per sq.ft (2024)
• Padriya Garden Street: Rs 4,400 per sq.ft (2024)
• Palaiyappan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in N.S.C. Bose Road

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value amounts to Rs 1,65,00,000. The stamp duty at 7% would be Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, bringing the total to Rs 14,85,000. It is important to note that 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 N.S.C. Bose Road?

The Sub Registrar Office that covers N.S.C. Bose Road is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Muthiyalpet. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is assessed to determine the applicable taxes. This ensures that the government receives the correct amount of revenue based on the property's value as determined by the latest revisions in the register.

Frequently asked questions

What is the current guideline value of N.S.C. Bose Road?

The current guideline value of N.S.C. Bose Road is Rs 16,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 4,833 per sq.ft in 2003 to Rs 16,500 per sq.ft in 2024, reflecting an overall increase of 241% over this period.

What is the stamp duty rate for properties on N.S.C. Bose Road?

The stamp duty rate for properties in N.S.C. Bose Road is 7%, which is applied to the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for N.S.C. Bose Road?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, and it covers N.S.C. Bose Road.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with N.S.C. Bose Road's current value being significantly above this median.