Guideline Value for WEST FIRST BUNGALOW STREET

West First Bungalow Street guideline value

The current guideline value for West First Bungalow Street is Rs 4,620 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of West First Bungalow Street has changed

The guideline value for West First Bungalow Street has seen several revisions over the years. In 2002, the guideline value was Rs 350 per sq.ft. This increased to Rs 404 per sq.ft in 2003, marking a 15% rise. The value then saw a significant jump to Rs 1,000 per sq.ft in 2007, reflecting an increase of 148%. By 2012, the value was Rs 4,200 per sq.ft, which was a substantial increase of 320% from 2007. However, it decreased to Rs 2,814 per sq.ft in 2017, which was a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 4,200 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the value at Rs 4,620 per sq.ft, a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1220%. There are no figures for revisions in years other than those specified.

Guideline values in Ekkaduthangal

In Ekkaduthangal village, there are 190 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The guideline value for West First Bungalow Street is equal to the median of Rs 4,620 per sq.ft for this area.

• West Side Main Road: Rs 4,620 per sq.ft (2024)
• V.V. Koil Street: Rs 3,520 per sq.ft (2024)
• V.O.C. Street: Rs 3,520 per sq.ft (2024)
• 120 Feet Road West Side: Rs 8,800 per sq.ft (2024)
• Vivekananda Street: Rs 3,520 per sq.ft (2024)
• Visalatchi Nagar 3rd Street: Rs 6,610 per sq.ft (2024)

Stamp duty and registration fee for property in West First Bungalow Street

For a 1,000 sq.ft plot at the current rate of Rs 4,620 per sq.ft, the guideline value amounts to Rs 46,20,000. The stamp duty at 7% would be Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, totaling Rs 4,15,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West First Bungalow Street?

The Sub Registrar Office that covers West First Bungalow Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value to ensure compliance with registration requirements. This value is updated periodically, reflecting changes in the real estate landscape, and it is crucial for both buyers and sellers to stay informed.

Frequently asked questions

What is the current guideline value for West First Bungalow Street?

The current guideline value for West First Bungalow Street is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 350 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, reflecting an overall increase of 1220% over this period.

What is the land classification for West First Bungalow Street?

West First Bungalow Street is classified as Residential Class II Type - I under the Chennai South Joint I SRO.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,15,800.

Which office handles registrations for properties in West First Bungalow Street?

The Chennai South Joint I Sub Registrar Office handles registrations for properties in West First Bungalow Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.