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 Thailavaram village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Bhagatsingh Street (Ward-21) has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. The 2023 revision saw an increase to Rs 600 per sq.ft, and the most recent revision in 2024 raised it to Rs 660 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no recorded figures for Bhagatsingh Street in the revisions of 2002, 2003, and 2007. The increase from 2017 to 2023 was significant at 49%, while the decrease from 2012 to 2017 was 33%.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 770 per sq.ft, placing Bhagatsingh Street's 2024 figure below this median.

• Bhaarathidasan Street (Ward-20): Rs 881 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 rate of Rs 660 per sq.ft, the 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, totaling Rs 59,400. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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, 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 Thailavaram

The guideline value plays a crucial role in the registration process when buying or selling property in Thailavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a buyer or seller approaches the Sub Registrar Office, the guideline value is referenced to calculate applicable fees, such as stamp duty and registration fees. This ensures that the government receives its due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bhagatsingh Street (Ward-21)?

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 several times, with the most recent revision in 2024 increasing it to Rs 660 per sq.ft from Rs 600 per sq.ft in 2023. The value was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012.

What is the land classification for Bhagatsingh Street (Ward-21)?

The land classification for Bhagatsingh Street (Ward-21) is Residential Class II Type - I. This classification indicates the type of development permissible in the area.

Where can I find the Sub Registrar Office for Bhagatsingh Street (Ward-21)?

The Sub Registrar Office covering Bhagatsingh Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Thailavaram?

Stamp duty for properties in Thailavaram is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.