Guideline Value for USMAN ROAD (PART II BUS STAND TO PANGAL PARK)

Usman Road (Part II Bus Stand To Pangal Park) guideline value

The current guideline value of Usman Road (Part II Bus Stand To Pangal Park) is Rs 27,500 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 Commercial Special Type - I.

How the guideline value of Usman Road (Part II Bus Stand To Pangal Park) has changed

The guideline value for Usman Road (Part II Bus Stand To Pangal Park) has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 12,000 per sq.ft. This increased to Rs 25,000 per sq.ft in 2012, marking a significant rise of 108%. However, it then decreased to Rs 16,750 per sq.ft in 2017, reflecting a drop of 33%. Following this, the value surged to Rs 25,000 per sq.ft in 2023, a notable increase of 49%. As of the latest revision in 2024, the guideline value stands at Rs 27,500 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for Usman Road for the years 2002 and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 129%.

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, placing Usman Road (Part II Bus Stand To Pangal Park) above this median.

• Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road): Rs 27,500 per sq.ft (2024)
• Usman Road (Part I New Boag Road To Bus Stand): Rs 27,500 per sq.ft (2024)
• Unnamalai Ammal Street: Rs 14,300 per sq.ft (2024)
• Vaidyaraman Street: Rs 14,300 per sq.ft (2024)
• Valmiki Street: Rs 14,300 per sq.ft (2024)
• Varadaraja Mudali Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Usman Road (Part II Bus Stand To Pangal Park)

For a 1,000 sq.ft plot at the current guideline value of Rs 27,500 per sq.ft, the total guideline value would be Rs 2,75,00,000. The stamp duty, charged at 7%, would amount to Rs 19,25,000, while the registration fee at 2% would total Rs 5,50,000. Together, these costs would come to Rs 24,75,000. 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 Usman Road (Part II Bus Stand To Pangal Park)?

The Sub Registrar Office that covers Usman Road (Part II Bus Stand To Pangal Park) is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Tnagar, as it serves as a benchmark for determining the minimum value of a property transaction. This value is used by the registration authorities to calculate the applicable stamp duty and registration fees, ensuring that these charges are based on a standardized assessment rather than individual negotiations.

When a property is registered, the guideline value helps to maintain transparency and fairness in property transactions. Buyers and sellers should be aware of this value as it directly impacts the costs associated with property transfer, including taxes and fees that are mandatory during the registration process.

Frequently asked questions

What is the current guideline value of Usman Road (Part II Bus Stand To Pangal Park)?

The current guideline value of Usman Road (Part II Bus Stand To Pangal Park) is Rs 27,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 12,000 per sq.ft in 2007 to Rs 27,500 per sq.ft in 2024, reflecting an overall increase of 129% over this period.

What is the land classification for Usman Road (Part II Bus Stand To Pangal Park)?

The land classification for Usman Road (Part II Bus Stand To Pangal Park) is Commercial Special Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Usman Road (Part II Bus Stand To Pangal Park)?

The Sub Registrar Office for Usman Road (Part II Bus Stand To Pangal Park) is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 2,75,00,000, the stamp duty would be Rs 19,25,000 at a rate of 7%.