Guideline Value for BHEL NAGAR SAIRAM NAGAR ANNEX SALAI

Bhel Nagar Sairam Nagar Annex Salai guideline value

The current guideline value for Bhel Nagar Sairam Nagar Annex Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Bhel Nagar Sairam Nagar Annex Salai has changed

The guideline value for Bhel Nagar Sairam Nagar Annex Salai has undergone several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then rose again to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures 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 that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median of Rs 2,200 per sq.ft. The guideline value for Bhel Nagar Sairam Nagar Annex Salai is above this median.

• Bhel Nagar Anna Street: Rs 3,300 per sq.ft (2024)
• 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 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 Sairam Nagar Annex Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total to Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Bhel Nagar Sairam Nagar Annex Salai?

The Sub Registrar Office that covers Bhel Nagar Sairam Nagar Annex Salai 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the necessary fees, ensuring that the transaction is recorded accurately and in accordance with local regulations.

Frequently asked questions

What is the current guideline value for Bhel Nagar Sairam Nagar Annex Salai?

The current guideline value for Bhel Nagar Sairam Nagar Annex Salai 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 for this area?

The land classification for Bhel Nagar Sairam Nagar Annex Salai is Commercial Class I Type - II.

What are the other streets in Medavakkam with the same guideline value?

Other streets in Medavakkam with a guideline value of Rs 3,300 per sq.ft include Bhel Nagar Anna Street, Bhel Nagar 6th Street, Bhel Nagar 5th Street, Bhel Nagar 4th Street, Bhel Nagar 3rd Street, and Bhel Nagar 2nd Street.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Bhel Nagar Sairam Nagar Annex Salai 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.