Guideline Value for USMAN ROAD(PART I NEW BOAG ROAD TO BUS STAND)

Usman Road(Part I New Boag Road To Bus Stand) guideline value

The current guideline value of Usman Road(Part I New Boag Road To Bus Stand) 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 I New Boag Road To Bus Stand) has changed

The guideline value for Usman Road(Part I New Boag Road To Bus Stand) has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 25,000 per sq.ft. This figure saw a decrease to Rs 16,750 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 25,000 per sq.ft, which is a rise of 49%. The latest revision in 2024 set the guideline value at Rs 27,500 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register does not have figures for Usman Road(Part I New Boag Road To Bus Stand) for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values 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, positioning Usman Road(Part I New Boag Road To Bus Stand) above this median.

• Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road): Rs 27,500 per sq.ft (2024)
• Usman Road (Part II Bus Stand To Pangal Park): 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 I New Boag Road To Bus Stand)

For a 1,000 sq.ft plot at the current guideline value of Rs 27,500 per sq.ft, the total guideline value amounts to Rs 2,75,00,000. The stamp duty at 7% would be Rs 19,25,000, and the registration fee at 2% would be Rs 5,50,000, bringing the total to Rs 24,75,000. It is important to note that the stamp duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Usman Road(Part I New Boag Road To Bus Stand)?

The Sub Registrar Office that covers Usman Road(Part I New Boag Road To Bus Stand) 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 during the registration of property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must take this value into account to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Usman Road(Part I New Boag Road To Bus Stand)?

The current guideline value of Usman Road(Part I New Boag Road To Bus Stand) 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 from Rs 25,000 per sq.ft in 2023 to Rs 27,500 per sq.ft in 2024, which is an increase of 10%. From 2017 to 2023, it increased from Rs 16,750 to Rs 25,000, a rise of 49%.

What is the land classification for Usman Road(Part I New Boag Road To Bus Stand)?

The land classification for Usman Road(Part I New Boag Road To Bus Stand) is Commercial Special Type - I. This classification indicates the nature of development and usage permitted in the area.

Where can I find the registration office for Usman Road(Part I New Boag Road To Bus Stand)?

The registration office for Usman Road(Part I New Boag Road To Bus Stand) 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 for properties in Tnagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,75,00,000, the stamp duty at 7% would amount to Rs 19,25,000.