Guideline Value for NEW BOAG ROAD

New Boag Road guideline value

The current guideline value for New Boag Road is Rs 9,900 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village, under the jurisdiction of the Thiyagaraya nagar SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of New Boag Road has changed

The guideline value for New Boag Road has seen significant changes over the years. In the 2003 revision, the value was Rs 1,865 per sq.ft. This increased to Rs 5,055 per sq.ft in 2007, marking a substantial rise of 171%. The following revision in 2012 set the value at Rs 9,000 per sq.ft, which was a notable increase of 78% from the previous figure. However, in 2017, the value dropped to Rs 6,030 per sq.ft, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value increased to Rs 9,000 per sq.ft, representing a significant rise of 49%. The most recent revision in 2024 has set the value at Rs 9,900 per sq.ft, which is a 10% increase from the 2023 figure. It is worth noting that the register has no figure for this street in 2002.

Guideline values in Tnagar

Tnagar village comprises 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value in this area is Rs 11,000 per sq.ft, placing New Boag Road's 2024 figure below that median.

• New Giri Ist Street: Rs 8,800 per sq.ft (2024)
• New Giri Road: Rs 8,800 per sq.ft (2024)
• New Postal Colony Street: Rs 8,800 per sq.ft (2024)
• North Boag Road: Rs 11,000 per sq.ft (2024)
• North Boag Road(2nd Cross Street, 2nd Lane): Rs 11,000 per sq.ft (2024)
• North Dhandapani Street / Dhandapani Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in New Boag Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, totaling Rs 8,91,000. 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 further calculations.

Which Sub Registrar Office covers New Boag Road?

The Sub Registrar Office that covers New Boag Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Tnagar. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is generally considered the minimum value for property transactions, ensuring that the government receives appropriate revenue from property sales.

When selling property, the guideline value can influence the sale price, as it provides a benchmark for both buyers and sellers. Buyers often refer to the guideline value to assess the legitimacy of the asking price, while sellers may use it to justify their pricing strategy during negotiations.

Frequently asked questions

What is the current guideline value of New Boag Road?

The current guideline value for New Boag Road is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for New Boag Road has increased from Rs 1,865 per sq.ft in 2003 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 431% over the years.

What is the land classification for New Boag Road?

The land classification for New Boag Road is Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in New Boag Road?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000, and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Which office handles property registrations for New Boag Road?

The Thiyagaraya nagar Sub Registrar Office handles property registrations for New Boag Road, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.