Guideline Value for NORTH BOAG ROAD

North Boag Road guideline value

The current guideline value of North Boag Road is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Residential Special Type - I.

How the guideline value of North Boag Road has changed

The guideline value for North Boag Road has seen several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 2,321 per sq.ft. This increased to Rs 3,000 per sq.ft in 2007, marking a significant rise of 29%. The value then jumped to Rs 10,000 per sq.ft in 2012, which was an increase of 233%. However, it decreased to Rs 6,700 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 10,000 per sq.ft in 2023, and the most recent revision in 2024 has set the guideline value at Rs 11,000 per sq.ft, representing a 10% increase from the previous year.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 374%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, which is the same as the current value for North Boag Road.

• 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)
• 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

For a 1,000 sq.ft plot at the current rate 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers North Boag Road?

The Sub Registrar Office that covers North 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 when buying or selling property in Tnagar. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of North Boag Road?

The current guideline value of North Boag Road 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 from Rs 2,321 per sq.ft in 2003 to Rs 11,000 per sq.ft in 2024, showing an overall increase of 374% over the years.

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

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Which Sub Registrar Office covers North Boag Road?

The Thiyagaraya nagar Sub Registrar Office covers North Boag Road, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the classification of land on North Boag Road?

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