Guideline Value

Corporate

Guideline Value for BELL NAGAR 1ST MAIN ROAD

₹3300/sq.ft.

The guideline value for Bell Nagar 1st Main Road in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. It was Rs 3000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹3300 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2010 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bell Nagar 1st Main Road

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Bell Nagar 1st Main Road guideline value

The current guideline value of Bell Nagar 1st Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Bell Nagar 1st Main Road has changed

The guideline value for Bell Nagar 1st Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. This marked a decline of 33%. However, the value saw a significant increase in the following revisions, with the 2023 revision at Rs 3,000 per sq.ft, and the latest 2024 revision at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

When considering the overall changes, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2017 revision does not have a figure for this street in the register for the years 2002, 2003, and 2007.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Bell Nagar 1st Main Road is above this median.

Stamp duty and registration fee for property in Bell Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bell Nagar 1st Main Road?

The Sub Registrar Office that covers Bell Nagar 1st Main Road 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. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the registration office will assess the guideline value to ensure that the correct fees are applied, based on either the guideline value or the sale price, whichever is higher. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Bell Nagar 1st Main Road?

The current guideline value of Bell Nagar 1st Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase. The value was Rs 2,010 per sq.ft in 2017, showing a significant increase of 49% by 2023.

What is the land classification for Bell Nagar 1st Main Road?

The land classification for Bell Nagar 1st Main Road is Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Bell Nagar 1st Main Road?

The Sub Registrar Office for Bell Nagar 1st Main Road 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.

How is the stamp duty calculated for properties in Medavakkam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.