Guideline Value for BAJAR NAGAR 1ST STREET

Bajar Nagar 1st Street guideline value

The current guideline value of Bajar Nagar 1st Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Paruthipattu village and falls under the Avadi SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bajar Nagar 1st Street has changed

Over the years, the guideline value of Bajar Nagar 1st Street has undergone several revisions. The earliest revision available is from 2012, which set the value at Rs 900 per sq.ft. This was followed by a decrease to Rs 603 per sq.ft in 2017, marking a decline of 33%. However, the subsequent revisions saw a significant increase, with the value rising to Rs 900 per sq.ft in 2023, and then to Rs 950 per sq.ft in 2024, reflecting a 6% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, reaching Rs 900 per sq.ft. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 6%, with the current rate being below the median value of Rs 1,625 per sq.ft for the 486 streets in Paruthipattu under the Avadi SRO. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft. The median value is Rs 1,625 per sq.ft, indicating that Bajar Nagar 1st Street's 2024 figure is below this median. Here are some other streets in Paruthipattu:

• Bajar Nagar 2nd Street: Rs 950 per sq.ft (2024)
• Bajar Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Bajar Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• Bajar Nagar 5th Street: Rs 950 per sq.ft (2024)
• Bakthavachalapuram 1st Street: Rs 1,625 per sq.ft (2024)
• Bakthavachalapuram 2nd Street: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Bajar Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value would be Rs 9,50,000. The stamp duty at 7% would amount to Rs 66,500, while the registration fee at 2% would be Rs 19,000, bringing the total fees together to Rs 85,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bajar Nagar 1st Street?

The Sub Registrar Office that covers Bajar Nagar 1st Street is the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Paruthipattu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the minimum value at which the property can be registered. This ensures transparency and fairness in property dealings, as the guideline value reflects the government's assessment of property values in the area.

Frequently asked questions

What is the current guideline value for Bajar Nagar 1st Street?

The current guideline value for Bajar Nagar 1st Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and finally to Rs 950 per sq.ft in 2024.

What is the median guideline value in Paruthipattu?

The median guideline value for the 486 streets in Paruthipattu is Rs 1,625 per sq.ft, which indicates that Bajar Nagar 1st Street's current value is below this median.

What are the stamp duty and registration fees for a property in Bajar Nagar 1st Street?

For a property valued at Rs 9,50,000, the stamp duty would be Rs 66,500 and the registration fee would be Rs 19,000, totaling Rs 85,500.

Which office handles property registrations for Bajar Nagar 1st Street?

The Avadi Sub Registrar Office handles property registrations for Bajar Nagar 1st Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.