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 Vallancheri village, under the Chengleput Joint II SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Bhagatsingh Street has undergone several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 402 per sq.ft. Following this, the value rose significantly to Rs 600 per sq.ft in 2023, and then increased again to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From the 2017 revision to 2023, the guideline value saw a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a slight increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 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 for these streets is Rs 825 per sq.ft, indicating that Bhagatsingh Street's current value is below the 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 1,100 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 would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total cost for these fees 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)?

The Sub Registrar Office that covers Bhagatsingh Street (Ward-21) is 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 Vallancheri

The guideline value is a crucial factor during the registration of property transactions in Vallancheri. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark. Buyers should be aware that the stamp duty and registration fees will be calculated based on either the guideline value or the sale price, whichever is higher, ensuring transparency in the transaction process.

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 from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

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

Bhagatsingh Street (Ward-21) is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions here?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.

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

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