Guideline Value for SOUTH BOAG ROAD MTB SCHEME

South Boag Road Mtb Scheme guideline value

The current guideline value for South Boag Road Mtb Scheme is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of South Boag Road Mtb Scheme has changed

The guideline value for South Boag Road Mtb Scheme has undergone several revisions over the years. In the 2002 revision, the value was Rs 3,227 per sq.ft, which increased to Rs 3,582 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 4,000 per sq.ft in 2007, a 12% increase from the previous year. The 2012 revision saw the value at Rs 7,000 per sq.ft, reflecting a significant increase of 75% from the 2007 figure. However, in the 2017 revision, the value dropped to Rs 4,690 per sq.ft, a decrease of 33% from 2012. The guideline value then rose to Rs 7,000 per sq.ft in the 2023 revision, and finally, it increased to Rs 7,700 per sq.ft in the 2024 revision, representing a 10% increase.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 139%. The register has no figure for the years not listed above.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry 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, indicating that the 2024 figure for South Boag Road Mtb Scheme is below that median.

• South Boag Road (Southern Side Of Thiagaraya Road): Rs 14,300 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 Mtb Scheme

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers South Boag Road Mtb Scheme?

The Sub Registrar Office covering South Boag Road Mtb Scheme 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 is a crucial factor in property transactions in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When registering a property, the guideline value helps establish the official value of the property for tax purposes. It is important for both parties in a transaction to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for South Boag Road Mtb Scheme?

The current guideline value for South Boag Road Mtb Scheme is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 3,227 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 139% over the years.

What is the registration office for South Boag Road Mtb Scheme?

The registration office for South Boag Road Mtb Scheme is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for properties in South Boag Road Mtb Scheme?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 77,00,000 would incur a stamp duty of Rs 5,39,000 at a rate of 7%.

What are the other guideline values in Tnagar?

In Tnagar, guideline values range from Rs 4,400 to Rs 27,500 per sq.ft. South Boag Road Mtb Scheme's value is below the median of Rs 11,000 per sq.ft for the area.