Guideline Value for BISMILLAH NAGAR

Bismillah Nagar guideline value

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

How the guideline value of Bismillah Nagar has changed

The guideline value for Bismillah Nagar has seen significant changes over the years. Starting from Rs 223 per sq.ft in 2003, it increased to Rs 750 per sq.ft in 2007, marking a substantial rise of 236%. The value then jumped to Rs 2,000 per sq.ft in 2012, reflecting a 167% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%. From 2017 to 2023, the value rose sharply to Rs 2,000 per sq.ft, an increase of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, representing a 10% increase from the previous year.

The register has no figure for Bismillah Nagar in 2002. Overall, from 2003 to 2024, the guideline value has increased by 887%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Bismillah Nagar.

• BISMILLAH NAGAR 1st CROSS STREET: Rs 2,200 per sq.ft (2024)
• BISMILLAH NAGAR 2nd 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 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Bismillah Nagar?

The Sub Registrar Office that covers Bismillah Nagar 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

The guideline value is a crucial factor in the registration process when buying or selling property in Enjambakkam. It is used to determine the stamp duty and registration fees applicable on the transaction, ensuring that these costs are calculated fairly based on the established rates.

When a property is registered, the guideline value serves as a reference point for the official valuation of the property. This helps in maintaining transparency and consistency in property transactions within the area.

Frequently asked questions

What is the current guideline value of Bismillah Nagar?

The current guideline value of Bismillah Nagar 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 increased from Rs 223 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 887% over this period.

What is the land classification of Bismillah Nagar?

Bismillah Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.

Where is the Neelankarai Sub Registrar Office located?

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

How is stamp duty calculated for properties in Bismillah Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000.