Guideline Value for BHAGATHSINGH STREET

Bhagathsingh Street guideline value

The current guideline value of Bhagathsingh Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Bhagathsingh Street has changed

The guideline value of Bhagathsingh Street has seen several revisions over the years. In 2012, the guideline value was Rs 6,500 per sq.ft, which decreased to Rs 4,355 per sq.ft in 2017. Following this, the value increased significantly to Rs 6,500 per sq.ft in 2023, and then rose again to Rs 7,150 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value experienced a decrease of 33%. However, from 2017 to 2023, it increased by 49%. 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 Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Bhagathsingh Street's 2024 figure below this median.

• Besant Nagar 7th Avenue: Rs 12,660 per sq.ft (2024)
• Besant Nagar 6th Cross Street: Rs 9,900 per sq.ft (2024)
• BESANT NAGAR 6th AVENUE: Rs 11,000 per sq.ft (2024)
• Besant Nagar 32nd Cross Street: Rs 9,900 per sq.ft (2024)
• Besant Nagar 31st Cross Street: Rs 9,900 per sq.ft (2024)
• Besant Nagar 30th Cross Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagathsingh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, leading to a total of Rs 6,43,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhagathsingh Street?

The Sub Registrar Office that covers Bhagathsingh Street 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 Thiruvanmiyur

The guideline value is a crucial factor in the registration process of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bhagathsingh Street?

The current guideline value of Bhagathsingh Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, then to Rs 6,500 per sq.ft in 2023, and finally to Rs 7,150 per sq.ft in 2024.

What are the other streets in Thiruvanmiyur with their guideline values?

Other streets in Thiruvanmiyur include Besant Nagar 7th Avenue at Rs 12,660 per sq.ft, Besant Nagar 6th Cross Street at Rs 9,900 per sq.ft, and several others with values ranging from Rs 9,900 to Rs 12,660 per sq.ft.

What fees are associated with property transactions in Bhagathsingh Street?

For a property valued at Rs 71,50,000, the stamp duty is Rs 5,00,500 and the registration fee is Rs 1,43,000, totaling Rs 6,43,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bhagathsingh Street?

The Sub Registrar Office for Bhagathsingh Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find more information about your SRO online.