Guideline Value for BETHEL NAGAR

Bethel Nagar guideline value

The current guideline value of Bethel Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village under the Selaiyur SRO and is classified as Residential Class II Type - II.

How the guideline value of Bethel Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a significant increase to Rs 1,005 per sq.ft. However, the value rose sharply to Rs 1,500 per sq.ft in the 2023 revision. The most recent revision in 2024 has increased the value to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. In contrast, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Bethel Nagar is below this median.

• Bharathiar Nagar: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar: Rs 2,700 per sq.ft (2024)
• Balaji Nagar: Rs 2,700 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 1,900 per sq.ft (2024)
• Bogar Avenue: Rs 2,730 per sq.ft (2024)
• Bajanai Koil Street: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bethel Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the 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, bringing the total to Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Bethel Nagar?

The Sub Registrar Office that covers Bethel Nagar 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 information.

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

The guideline value is a crucial factor when buying or selling property in Vengaivasal, as it determines the minimum price at which a property can be registered. This value is set by the Registration Department and is used to calculate stamp duty and registration fees.

When a property is sold, the higher of the guideline value or the sale price is used for calculating applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bethel Nagar?

The current guideline value of Bethel Nagar 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 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Bethel Nagar?

Bethel Nagar is classified as Residential Class II Type - II, which indicates its designation for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated in Bethel Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.