Guideline Value for BISMILLAH NAGAR 2nd CROSS STREET

BISMILLAH NAGAR 2nd CROSS STREET guideline value

The current guideline value of BISMILLAH NAGAR 2nd CROSS STREET is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of BISMILLAH NAGAR 2nd CROSS STREET has changed

The guideline value for BISMILLAH NAGAR 2nd CROSS STREET has undergone several revisions over the years. In 2003, the guideline value was Rs 223 per sq.ft, which increased significantly to Rs 750 per sq.ft in 2007. The value then rose to Rs 2,000 per sq.ft in 2012, but saw a decrease to Rs 1,340 per sq.ft in 2017. The value increased again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision. Notably, there is no figure for this street in the 2002 revision.

Between these revisions, the changes in guideline value were notable. From 2003 to 2007, the value increased by 236%. The value then decreased by 33% from 2012 to 2017. In the subsequent years, the value saw a 49% increase from 2017 to 2023, followed by a 10% rise from 2023 to 2024. Overall, the guideline value has increased by 887% from 2003 to 2024.

Guideline values in Enjambakkam

Within Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with the median being Rs 2,200 per sq.ft. BISMILLAH NAGAR 2nd CROSS STREET's 2024 figure aligns with this median.

• BISMILLAH NAGAR 1st CROSS STREET: Rs 2,200 per sq.ft (2024)
• BISMILLAH NAGAR 3rd CROSS STREET: Rs 2,200 per sq.ft (2024)
• BISMILLAH NAGAR 4th CROSS STREET: Rs 2,200 per sq.ft (2024)
• Bismillah Nagar: Rs 2,200 per sq.ft (2024)
• Bismillah Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Bhavani Amman Koil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in BISMILLAH NAGAR 2nd CROSS STREET

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers BISMILLAH NAGAR 2nd CROSS STREET?

The Sub Registrar Office that covers BISMILLAH NAGAR 2nd CROSS STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Enjambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fee. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of BISMILLAH NAGAR 2nd CROSS STREET?

The current guideline value of BISMILLAH NAGAR 2nd CROSS STREET is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 223 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 887% over this period.

What is the land classification for BISMILLAH NAGAR 2nd CROSS STREET?

BISMILLAH NAGAR 2nd CROSS STREET is classified as Residential Class III Type - I.

What are the stamp duty rates applicable in this area?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Neelankarai Sub Registrar Office covers BISMILLAH NAGAR 2nd CROSS STREET and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.