Guideline Value for BHAGYAM NEW TOWN

Bhagyam New Town guideline value

The current guideline value of Bhagyam New Town is Rs 626 per sq.ft, effective from the 2024 revision. This property is located in Kakkalur village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class II Type - III.

How the guideline value of Bhagyam New Town has changed

Looking at the revisions, the guideline value for Bhagyam New Town was Rs 625 per sq.ft in 2012, which then decreased to Rs 419 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 626 per sq.ft in 2023, which remained unchanged in the 2024 revision.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable, showing an increase of 0% during this period.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO, with the 2024 guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value is Rs 626 per sq.ft, which is the same as the guideline value for Bhagyam New Town.

• Bharathi Nagar: Rs 626 per sq.ft (2024)
• Bharathyar Street: Rs 626 per sq.ft (2024)
• Birunthavanam Street: Rs 626 per sq.ft (2024)
• Brindavanam Nagar: Rs 626 per sq.ft (2024)
• Balaji Nagar: Rs 626 per sq.ft (2024)
• Balaji Garden: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagyam New Town

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 6,26,000. The stamp duty at 7% would amount to Rs 43,820, and the registration fee at 2% would be Rs 12,520, totaling Rs 56,340. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhagyam New Town?

The Sub Registrar Office that covers Bhagyam New Town is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is crucial during the registration of property transactions in Kakkalur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bhagyam New Town?

The current guideline value of Bhagyam New Town is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 625 per sq.ft in 2012 to Rs 419 per sq.ft in 2017, then increased to Rs 626 per sq.ft in 2023, remaining the same in 2024.

What is the land classification of Bhagyam New Town?

Bhagyam New Town is classified as Residential Class II Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Bhagyam New Town?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Bhagyam New Town located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.