Guideline Value for BAGIYAM AVENUE

Bagiyam Avenue guideline value

The current guideline value of Bagiyam Avenue is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Ottiyampakkam village, under the Selaiyur SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Bagiyam Avenue has changed

The guideline value for Bagiyam Avenue has seen significant changes over the years. In the 2017 revision, the value was Rs 1,206 per sq.ft. This increased to Rs 2,688 per sq.ft in the 2023 revision, marking a substantial rise of 123%. The most recent revision in 2024 set the value at Rs 2,900 per sq.ft, which is an 8% increase from the 2023 figure.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 140%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,950 per sq.ft, placing Bagiyam Avenue's 2024 figure above that median.

• Avudaiyar Thrid Cross Street: Rs 1,950 per sq.ft (2024)
• Avudaiyar Street: Rs 1,950 per sq.ft (2024)
• Avudaiyar Koil Third Street: Rs 1,950 per sq.ft (2024)
• Avudaiyar Koil Street: Rs 1,950 per sq.ft (2024)
• Avudaiyar Koil Second Street: Rs 1,950 per sq.ft (2024)
• Avudaiyar Koil First Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Bagiyam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% is Rs 2,03,000, and the registration fee at 2% is Rs 58,000, bringing the total cost for these fees to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bagiyam Avenue?

The Sub Registrar Office covering Bagiyam Avenue 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ottiyampakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for legal and taxation purposes.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures compliance with local regulations and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Bagiyam Avenue?

The current guideline value of Bagiyam Avenue is Rs 2,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,206 per sq.ft to Rs 2,900 per sq.ft in 2024, marking an overall increase of 140%.

What is the registration office for Bagiyam Avenue?

The registration office for Bagiyam Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What are the stamp duty rates for properties in Bagiyam Avenue?

The stamp duty for properties in Bagiyam Avenue is charged at 7% of the guideline value or sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum registration value for a property. Buyers must pay stamp duty and registration fees based on this value, ensuring compliance with local regulations.