Guideline Value for BHEL NAGAR ANNA STREET

Bhel Nagar Anna Street guideline value

The current guideline value of Bhel Nagar Anna 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, and is classified as Commercial Class I Type - II.

How the guideline value of Bhel Nagar Anna Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure saw a decrease to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 established the current guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Bhel Nagar Anna Street's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Bhel Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Bhel Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Bhel Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Bhel Nagar Sairam Nagar Annex Salai: Rs 3,300 per sq.ft (2024)
• Bhel Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Bhel Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bhel Nagar Anna 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. Please note that the 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 Anna Street?

The Sub Registrar Office that covers Bhel Nagar Anna 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 is a crucial factor in property transactions in Medavakkam, as it determines the minimum value at which properties can be registered. When a buyer or seller agrees on a sale price, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is important to note that the registration office will charge the buyer based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bhel Nagar Anna Street?

The current guideline value of Bhel Nagar Anna 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 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 of Bhel Nagar Anna Street?

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Bhel Nagar Anna Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Bhel Nagar Anna Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.