Guideline Value for BETHAL NAGAR

Bethal Nagar guideline value

The current guideline value of Bethal Nagar, located in Seevaram village under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Bethal Nagar has changed

The guideline value for Bethal Nagar has seen several revisions over the years. In 2002, the value was Rs 184 per sq.ft, which increased to Rs 475 per sq.ft in 2003, marking a significant rise of 158%. By 2007, the value further increased to Rs 750 per sq.ft, a change of 58%. The 2012 revision saw the value rise to Rs 3,000 per sq.ft, reflecting a substantial increase of 300%. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1693%. There are no figures available for revisions in years not listed in the register for this street.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,300 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value for Bethal Nagar is above this median.

• Corporation Road: Rs 4,400 per sq.ft (2024)
• Ganapathi Nagar: Rs 2,800 per sq.ft (2024)
• Industrial Estate: Rs 6,400 per sq.ft (2024)
• Janakiraman Street: Rs 3,300 per sq.ft (2024)
• Karseem Salai: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bethal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to 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.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Bethal Nagar?

The Sub Registrar Office that covers Bethal Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Seevaram. It is used to determine the stamp duty and registration fees that are applicable when registering a property. Buyers must be aware that these charges are based on the higher of the guideline value or the sale price.

When selling property, the guideline value ensures that the transaction is recorded at a fair value as determined by the local authorities. This helps in maintaining transparency in property dealings and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Bethal Nagar?

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

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revisions occurring in 2024, 2023, 2017, 2012, 2007, 2003, and 2002.

What was the guideline value in 2017?

The guideline value of Bethal Nagar in 2017 was Rs 2,010 per sq.ft.

Where can I find the Sub Registrar Office for Bethal Nagar?

The Sub Registrar Office for Bethal Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property in Bethal Nagar?

Stamp duty for property in Bethal Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.