Guideline Value for BISMILLAH NAGAR 5TH STREET

Bismillah Nagar 5th Street guideline value

The current guideline value of Bismillah Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Bismillah Nagar 5th Street has changed

The guideline value for Bismillah Nagar 5th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2023 figure of Rs 2,000 per sq.ft. Looking further back, the value was Rs 1,340 per sq.ft in 2017, marking a significant increase of 49% to the 2023 figure. The 2012 revision also set the value at Rs 2,000 per sq.ft, but this was a decrease of 33% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Enjambakkam

In 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. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for Bismillah Nagar 5th Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bismillah Nagar 5th Street?

The Sub Registrar Office that covers Bismillah Nagar 5th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Enjambakkam, the guideline value is a crucial factor in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the property transaction. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Bismillah Nagar 5th Street?

The current guideline value of Bismillah Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value for Bismillah Nagar 5th Street has seen several revisions, with the most recent being Rs 2,200 per sq.ft in 2024, up from Rs 2,000 per sq.ft in 2023. The value has increased significantly from Rs 1,340 per sq.ft in 2017.

What is the land classification for Bismillah Nagar 5th Street?

Bismillah Nagar 5th Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Bismillah Nagar 5th Street is charged at 7% on the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can visit this office for registration-related queries.