Guideline Value for SOUTH BOAG ROAD (SOUTHERN SIDE OF THIAGARAYA ROAD)

South Boag Road (Southern Side Of Thiagaraya Road) guideline value

The current guideline value of South Boag Road (Southern Side Of Thiagaraya Road) is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Mixed Special Type - I.

How the guideline value of South Boag Road (Southern Side Of Thiagaraya Road) has changed

The guideline value for South Boag Road has seen significant changes over the years. In the 2002 revision, the value was Rs 1,696 per sq.ft. This increased to Rs 2,000 per sq.ft in 2003, marking an 18% rise. The value then doubled to Rs 4,000 per sq.ft in 2007, representing a 100% increase. By the 2012 revision, the value was Rs 13,000 per sq.ft, reflecting a 225% increase from 2007. However, in the 2017 revision, it decreased to Rs 8,710 per sq.ft, showing a decline of 33%. The value then rose to Rs 13,000 per sq.ft in 2023, followed by a further increase to Rs 14,300 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 743%. There are no figures available for the revisions in years other than those mentioned.

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 value for these streets is Rs 11,000 per sq.ft, making the guideline value of South Boag Road (Southern Side Of Thiagaraya Road) above the median.

• South Boag Road Mtb Scheme: Rs 7,700 per sq.ft (2024)
• South Dhandapani Street / Dhandapani Street: Rs 13,200 per sq.ft (2024)
• Soundarajan Street: Rs 6,600 per sq.ft (2024)
• South West Boag Road: Rs 11,000 per sq.ft (2024)
• Somasundaram Pillai Street: Rs 11,000 per sq.ft (2024)
• Solaiappan Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in South Boag Road (Southern Side Of Thiagaraya Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, while the registration fee at 2% would be Rs 2,86,000. Together, the total cost for these fees would be Rs 12,87,000. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers South Boag Road (Southern Side Of Thiagaraya Road)?

The Sub Registrar Office that covers South Boag Road (Southern Side Of Thiagaraya Road) is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. For more information, you can find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of South Boag Road (Southern Side Of Thiagaraya Road)?

The current guideline value of South Boag Road (Southern Side Of Thiagaraya Road) is Rs 14,300 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 1,696 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, with various increases and decreases in between.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 12,87,000.

Which Sub Registrar Office covers this street?

The Thiyagaraya nagar Sub Registrar Office covers South Boag Road (Southern Side Of Thiagaraya Road), located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification for South Boag Road?

The land classification for South Boag Road (Southern Side Of Thiagaraya Road) is Mixed Special Type - I.