Guideline Value for BHOOPATHY STREET

Bhoopathy Street guideline value

The current guideline value of Bhoopathy Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Bhoopathy Street has changed

The guideline value for Bhoopathy Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, from 2012 to 2017, there was a decrease to Rs 2,010 per sq.ft, a drop of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for Bhoopathy Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 371%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, indicating that Bhoopathy Street's 2024 figure is below this median.

• Bharathi Street: Rs 5,300 per sq.ft (2024)
• Bharathi Nagar: Rs 3,800 per sq.ft (2024)
• Bharathi Avenue: Rs 3,800 per sq.ft (2024)
• Balavinayagar Street: Rs 6,000 per sq.ft (2024)
• Balavinayagar Nagar Extn.,: Rs 6,000 per sq.ft (2024)
• Balavinayagar Nagar: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Bhoopathy Street

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, while the registration fee at 2% would be Rs 66,000. Therefore, the total cost for duty and registration would be 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhoopathy Street?

The Sub Registrar Office that covers Bhoopathy Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees that buyers must pay when acquiring property. This ensures that the government receives the appropriate revenue based on the established value of the property.

When selling property, the guideline value also serves as a reference point for buyers and sellers to agree on a sale price. It helps maintain transparency and ensures that both parties are aware of the official valuation set by the registration department.

Frequently asked questions

What is the current guideline value of Bhoopathy Street?

The current guideline value of Bhoopathy 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 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% over the years.

What is the registration office for Bhoopathy Street?

The registration office for Bhoopathy Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What are the stamp duty and registration fees for property in Bhoopathy Street?

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.

How do guideline values affect property transactions?

Guideline values are used to calculate the stamp duty and registration fees during property transactions. They serve as a reference point for both buyers and sellers to establish a fair sale price.