Guideline Value for Old Bungalow Street

Old Bungalow Street guideline value

The current guideline value of Old Bungalow Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village under the Periamet SRO, classified as Residential Class I Type - I.

How the guideline value of Old Bungalow Street has changed

The guideline value for Old Bungalow Street has seen several revisions over the years. In 2007, the guideline value was Rs 2,000 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 125% rise. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft from the 2024 revision, reflecting a 9% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 145%.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median guideline value in the village is Rs 3,300 per sq.ft, placing Old Bungalow Street's 2024 figure above this median.

• Padavatamman Koil 1st lane: Rs 2,500 per sq.ft (2024)
• Padavatamman koil East Street: Rs 2,500 per sq.ft (2024)
• Padavatamman Koil North Street: Rs 2,500 per sq.ft (2024)
• Padavatamman Kovil 1st lane: Rs 3,300 per sq.ft (2024)
• Padavattamman Koil street: Rs 3,300 per sq.ft (2024)
• Padavattamman lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Old Bungalow Street

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value would be Rs 49,00,000. The stamp duty, charged at 7%, would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Old Bungalow Street?

The Sub Registrar Office that covers Old Bungalow Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Chindadripet. It is used as a basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers need to be aware of the current guideline value to understand the financial implications of their transactions.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value as determined by the government. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Old Bungalow Street?

The current guideline value of Old Bungalow Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 145% over this period.

What is the land classification of Old Bungalow Street?

Old Bungalow Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Old Bungalow Street?

The registration office for Old Bungalow Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Chindadripet?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. It is typically charged at 7% of the guideline value.