Guideline Value for NORTH BOAG ROAD(2ND CROSS STREET, 2ND LANE)

North Boag Road(2nd Cross Street, 2nd Lane) guideline value

The current guideline value of North Boag Road(2nd Cross Street, 2nd Lane) is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, and the land classification is Residential Special Type - I.

How the guideline value of North Boag Road(2nd Cross Street, 2nd Lane) has changed

The guideline value for North Boag Road(2nd Cross Street, 2nd Lane) has seen significant changes over the years. In 2002, the guideline value was Rs 1,648 per sq.ft, which increased to Rs 1,829 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 3,000 per sq.ft in 2007, reflecting a substantial increase of 64%. Following this, the guideline value jumped to Rs 10,000 per sq.ft in 2012, a remarkable increase of 233%. However, it decreased to Rs 6,700 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 10,000 per sq.ft in 2023, before reaching the current value of Rs 11,000 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 567%. The register has no figures for the years not mentioned, and the changes reflect the fluctuations in the guideline value over time.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with the 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value is Rs 11,000 per sq.ft, which is the same as the current figure for North Boag Road(2nd Cross Street, 2nd Lane).

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

Stamp duty and registration fee for property in North Boag Road(2nd Cross Street, 2nd Lane)

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. It is important to note that the 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 North Boag Road(2nd Cross Street, 2nd Lane)?

The Sub Registrar Office that covers North Boag Road(2nd Cross Street, 2nd Lane) 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 of property transactions in Tnagar. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees payable at the time of registration. This ensures that the transaction is recorded at a value that is recognized by the government.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. The guideline value helps in establishing a fair basis for the transaction, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of North Boag Road(2nd Cross Street, 2nd Lane)?

The current guideline value of North Boag Road(2nd Cross Street, 2nd Lane) is Rs 11,000 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 1,648 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 567% over the years.

What is the land classification for North Boag Road(2nd Cross Street, 2nd Lane)?

The land classification for North Boag Road(2nd Cross Street, 2nd Lane) is Residential Special Type - I.

Where is the Sub Registrar Office located for North Boag Road(2nd Cross Street, 2nd Lane)?

The Sub Registrar Office for North Boag Road(2nd Cross Street, 2nd Lane) is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the stamp duty calculated for property transactions in Tnagar?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,10,00,000, the stamp duty at 7% would be Rs 7,70,000.