Guideline Value for BHEL NAGAR 4TH STREET

Bhel Nagar 4th Street guideline value

The current guideline value of Bhel Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village under the Chennai South Joint I SRO, classified as Commercial Class I Type - II.

How the guideline value of Bhel Nagar 4th Street has changed

The guideline value for Bhel Nagar 4th Street has undergone several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value significantly increased by 49%, reaching Rs 3,000 per sq.ft. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Bhel Nagar 4th Street's 2024 figure above this median.

• Bhel Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Bhel Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Bhel Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Bhel Nagar Anna Street: Rs 3,300 per sq.ft (2024)
• Bhel Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Bhel Nagar Sairam Nagar Annex Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bhel Nagar 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhel Nagar 4th Street?

The Sub Registrar Office that covers Bhel Nagar 4th 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. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Medavakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The value is set by the government and is updated periodically to reflect changes in the market.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bhel Nagar 4th Street?

The current guideline value of Bhel Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Bhel Nagar 4th Street?

Bhel Nagar 4th Street is classified as Commercial Class I Type - II.

What is the median guideline value in Medavakkam?

The median guideline value in Medavakkam is Rs 2,200 per sq.ft, which is lower than the current guideline value of Bhel Nagar 4th Street.

Where can I find the Sub Registrar Office for Bhel Nagar 4th Street?

The Sub Registrar Office for Bhel Nagar 4th 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.