Guideline Value for BHAGATSINGH STREET (WARD-21)

Bhagatsingh Street (Ward-21) guideline value

The current guideline value of Bhagatsingh Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Bhagatsingh Street (Ward-21) has changed

The guideline value of Bhagatsingh Street has undergone several revisions over the years. The earliest available figure is from 2012, where the value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017, a significant drop of 33%. However, the value rose to Rs 600 per sq.ft in 2023, marking an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Bhagatsingh Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Bhagatsingh Street's 2024 figure below that median.

• Bhaarathidasan Street (Ward-20): Rs 880 per sq.ft (2024)
• Bharathiar Street (Ward-20): Rs 1,100 per sq.ft (2024)
• Bharathi Street (Ward-21): Rs 660 per sq.ft (2024)
• Bhuvaneswari Amman Nagar (Ward-21): Rs 660 per sq.ft (2024)
• Bajanai Koil Street (Ward-21): Rs 660 per sq.ft (2024)
• Bajanai Koil Street Vallancheri (Ward -1): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagatsingh Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. 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 Bhagatsingh Street (Ward-21)?

Bhagatsingh Street (Ward-21) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Konathi. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the government and is regularly revised to reflect changes in the real estate market.

When selling property, the guideline value can also serve as a reference point for setting the sale price. However, the actual sale price may differ based on various factors, and the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Bhagatsingh Street?

The current guideline value of Bhagatsingh Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Bhagatsingh Street?

Bhagatsingh Street is classified as Residential Class II Type - I under the Chengleput Joint II SRO.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for property in Bhagatsingh Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees amount to Rs 59,400.