Guideline Value for BETHEL NAGAR ANNEX

Bethel Nagar Annex guideline value

The current guideline value of Bethel Nagar Annex is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Bethel Nagar Annex has changed

The guideline value for Bethel Nagar Annex has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 64 per sq.ft. This value increased to Rs 100 per sq.ft in 2003, followed by a significant rise to Rs 400 per sq.ft in 2007. The value then jumped to Rs 1,500 per sq.ft in 2012, but saw a decrease to Rs 1,005 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft.

Between the revisions, notable changes include an increase of 300% from 2003 to 2007, a decrease of 33% from 2012 to 2017, and a significant increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 2478%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the guideline value for Bethel Nagar Annex.

• Bethel Nagar: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street - 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street - 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street - 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street - 4th Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Bethel Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bethel Nagar Annex?

The Sub Registrar Office that covers Bethel Nagar Annex 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 Pallikaranai

The guideline value is a critical factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government collects the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Bethel Nagar Annex?

The current guideline value of Bethel Nagar Annex is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 64 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, showing a significant overall increase of 2478% over this period.

What is the stamp duty for properties in Bethel Nagar Annex?

The stamp duty for properties in Bethel Nagar Annex is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Bethel Nagar Annex located?

The Sub Registrar Office for Bethel Nagar Annex is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Bethel Nagar Annex?

The land classification for Bethel Nagar Annex is Residential Class IV Type - I, indicating its suitability for residential development.