Guideline Value for BHAGAVANTHAM GUPTA STREET

Bhagavantham Gupta Street guideline value

The current guideline value of Bhagavantham Gupta Street is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bhagavantham Gupta Street has changed

The guideline value for Bhagavantham Gupta Street has seen significant changes over the years. In 2002, the guideline value was Rs 1,261 per sq.ft. This increased to Rs 1,400 per sq.ft in 2003, marking an 11% rise. The value continued to rise to Rs 3,000 per sq.ft in 2007, which was a substantial 114% increase. By 2012, the value reached Rs 7,500 per sq.ft, reflecting a 150% increase from the previous revision. However, this was followed by a decrease to Rs 5,025 per sq.ft in 2017, which represented a 33% drop.

The most recent revisions show a significant increase. The guideline value was Rs 7,500 per sq.ft in 2023, and it has now risen to Rs 8,300 per sq.ft in 2024, an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 558%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. Bhagavantham Gupta Street's current value is below this median.

• Bharathi Nagar 2nd Lane: Rs 11,000 per sq.ft (2024)
• Bharathi Nagar 2nd Street: Rs 11,000 per sq.ft (2024)
• Bharathi Nagar 3rd Lane: Rs 11,000 per sq.ft (2024)
• Basullah Road: Rs 17,600 per sq.ft (2024)
• Basudev Street: Rs 13,200 per sq.ft (2024)
• Bharathi Nagar 3rd Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagavantham Gupta Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value would be Rs 83,00,000. The stamp duty at 7% would amount to Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, totaling Rs 7,47,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhagavantham Gupta Street?

The Sub Registrar Office that covers Bhagavantham Gupta Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable taxes. The stamp duty is charged based on the higher amount between the guideline value and the actual sale price, ensuring that the transaction is recorded accurately in the official registers.

Frequently asked questions

What is the current guideline value of Bhagavantham Gupta Street?

The current guideline value of Bhagavantham Gupta Street is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly from Rs 1,261 per sq.ft to Rs 8,300 per sq.ft in 2024, marking a total increase of 558% over this period.

What is the land classification of Bhagavantham Gupta Street?

Bhagavantham Gupta Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties here?

For a property valued at the current guideline value of Rs 8,300 per sq.ft, the total stamp duty would be Rs 5,81,000 and the registration fee would be Rs 1,66,000, totaling Rs 7,47,000 for a 1,000 sq.ft plot.

Where is the Sub Registrar Office for Bhagavantham Gupta Street located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35, and it covers Bhagavantham Gupta Street.