Guideline Value for BHAGAVATHSINGH STREET

Bhagavathsingh Street guideline value

The current guideline value of Bhagavathsingh Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bhagavathsingh Street has changed

The guideline value for Bhagavathsingh Street has undergone several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which later decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then rose again to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%. It is important to note that there are no figures available for Bhagavathsingh Street in the revisions for the years 2002, 2003, and 2007.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that have a guideline value for 2024, ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is also the current value for Bhagavathsingh Street.

• Bharathidasan Street: Rs 2,200 per sq.ft (2024)
• Bharathiyar Salai: Rs 2,200 per sq.ft (2024)
• Bharathiyar Street: Rs 2,200 per sq.ft (2024)
• Balavinayagar Koil Street: Rs 2,200 per sq.ft (2024)
• Balaji Street: Rs 1,650 per sq.ft (2024)
• Casagrand Tranquil: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagavathsingh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bhagavathsingh Street?

The Sub Registrar Office that covers Bhagavathsingh 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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements. The guideline value can influence the overall cost of property transactions, making it an important factor to consider during the buying or selling process.

Frequently asked questions

What is the current guideline value of Bhagavathsingh Street?

The current guideline value of Bhagavathsingh Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Bhagavathsingh Street?

The land classification for Bhagavathsingh Street is Residential Class II Type - I.

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

The Sub Registrar Office covering Bhagavathsingh Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Bhagavathsingh Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.