Guideline Value for B.M.D.Nagar

B.M.D.Nagar guideline value

The current guideline value of B.M.D.Nagar, located in Padappai village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of B.M.D.Nagar has changed

The guideline value of B.M.D.Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 85 per sq.ft. This increased drastically to Rs 1,200 per sq.ft in 2012, marking a remarkable increase of 1,312%. However, the value then decreased to Rs 804 per sq.ft in the 2017 revision, representing a decline of 33%. The 2023 revision set the value at Rs 1,200 per sq.ft, and the most recent 2024 revision increased it to Rs 1,320 per sq.ft, which is a 10% rise.

For the years 2002 and 2003, the register has no figure for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1,453%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, placing B.M.D.Nagar's 2024 figure above this median.

• Bikshi Nagar: Rs 660 per sq.ft (2024)
• Bhavani Nagar: Rs 1,320 per sq.ft (2024)
• Car Street: Rs 830 per sq.ft (2024)
• Bharathi Street: Rs 1,320 per sq.ft (2024)
• Bharathi Nagar: Rs 1,320 per sq.ft (2024)
• Chennai Teachers Guild City Phase-I: Rs 740 per sq.ft (2024)

Stamp duty and registration fee for property in B.M.D.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Please note that duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers B.M.D.Nagar?

B.M.D.Nagar falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padappai. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark for pricing. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of B.M.D.Nagar?

The current guideline value of B.M.D.Nagar is Rs 1,320 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 85 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1,453%.

What are the stamp duty and registration fees for property in B.M.D.Nagar?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for B.M.D.Nagar?

The Padappai Sub Registrar Office handles property registrations for B.M.D.Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for calculating stamp duty and registration fees during property transactions. It ensures that the government receives appropriate revenue and helps maintain transparency in property dealings.