Guideline Value for BISMILLA NAGAR

Bismilla Nagar guideline value

The current guideline value of Bismilla Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Senchiyakaram village under the Oothukkottai SRO, classified as Residential Class II Type - I.

How the guideline value of Bismilla Nagar has changed

Over the years, the guideline value of Bismilla Nagar has seen several revisions. The 2012 revision set the value at Rs 75 per sq.ft, which increased to Rs 50 per sq.ft in 2017. Following this, the value jumped to Rs 100 per sq.ft in 2023 and has remained the same in the 2024 revision. Notably, the register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but it then rose by 100% from 2017 to 2023. Overall, from 2012 to 2024, there has been an increase of 33% in the guideline value.

Guideline values in Senchiyakaram

In the village of Senchiyakaram, four streets under the Oothukkottai SRO have a 2024 guideline value of Rs 100 per sq.ft, which is also the median value for these streets. Bismilla Nagar's 2024 figure aligns with this median.

• Babavin Sri Venkaiah Garden: Rs 100 per sq.ft (2024)
• Babavin Sri Perumal Garden: Rs 100 per sq.ft (2024)
• Sri Sai Balajinagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Bismilla Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to 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 Bismilla Nagar?

The Bismilla Nagar area is covered by the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Senchiyakaram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that must be paid to the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall costs involved in the transaction. The fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bismilla Nagar?

The current guideline value of Bismilla Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 75 per sq.ft in 2012 to Rs 100 per sq.ft in 2024, with a notable drop to Rs 50 per sq.ft in 2017.

What is the classification of land in Bismilla Nagar?

Bismilla Nagar is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

Where can I find the Oothukkottai Sub Registrar Office?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, 602026, Chennai registration zone.

How is stamp duty calculated for properties in Bismilla Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 1,00,000 would incur a stamp duty of Rs 7,000 at 7%.