Guideline Value for BAGATHSINGH STREET

Bagathsingh Street guideline value

The current guideline value of Bagathsingh Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Arasankalani village and falls under the Selaiyur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Bagathsingh Street has changed

The guideline value for Bagathsingh Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,200 per sq.ft. The latest revision in 2024 has further increased the value to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 concerning this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median value among these streets is Rs 2,100 per sq.ft, indicating that Bagathsingh Street's 2024 figure is below the median.

• Bajanai Koil Street: Rs 2,100 per sq.ft (2024)
• Arasankazhani - Nookampalayam Road: Rs 2,100 per sq.ft (2024)
• Annai Indra Street: Rs 2,100 per sq.ft (2024)
• Amman Koil Street: Rs 1,300 per sq.ft (2024)
• Chelliamman Koil Street: Rs 1,300 per sq.ft (2024)
• Chola Akshayam Palazzo: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bagathsingh Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bagathsingh Street?

The Sub Registrar Office that covers Bagathsingh Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Arasankalani. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bagathsingh Street?

The current guideline value of Bagathsingh Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Bagathsingh Street?

Bagathsingh Street is classified as Residential Class III Type - I.

How is stamp duty calculated for properties on Bagathsingh Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 13,00,000, the stamp duty at 7% would be Rs 91,000.

Where can I find the Sub Registrar Office for Bagathsingh Street?

The Sub Registrar Office for Bagathsingh Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.