Guideline Value for BLESSINGS NAGAR

Blessings Nagar guideline value

The current guideline value of Blessings Nagar, located in Korakkathandalam village under the Oothukkottai SRO, is Rs 100 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Blessings Nagar has changed

Starting from the 2012 revision, the guideline value was set at Rs 75 per sq.ft. In the 2017 revision, it increased to Rs 50 per sq.ft, marking a decrease of 33%. The value then rose significantly to Rs 100 per sq.ft in the 2023 revision, reflecting a 100% increase. The current revision in 2024 maintains this value at Rs 100 per sq.ft, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Blessings Nagar. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Korakkathandalam

In Korakkathandalam, five streets under the Oothukkottai SRO have a 2024 guideline value of Rs 100 per sq.ft, with the median also being Rs 100 per sq.ft. Blessings Nagar's 2024 figure aligns with this median.

• Kasi Thiruvelan Nagar: Rs 100 per sq.ft (2024)
• Poovanam Nagar: Rs 100 per sq.ft (2024)
• Thiruvelan Nagar: Rs 100 per sq.ft (2024)
• V.G.P.Thiru Nagar Part-III: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Blessings Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty, charged at 7%, would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Blessings Nagar?

The Sub Registrar Office covering Blessings Nagar is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Korakkathandalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Blessings Nagar?

The current guideline value of Blessings 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, starting from Rs 75 per sq.ft in 2012, decreasing to Rs 50 per sq.ft in 2017, and then increasing to Rs 100 per sq.ft in 2023 and 2024.

What is the land classification of Blessings Nagar?

Blessings Nagar falls under the Residential Class I Type - I land classification.

What are the stamp duty and registration fees for property transactions in Blessings Nagar?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000, and the registration fee would be Rs 2,000, totaling Rs 9,000.

Which office handles registrations for Blessings Nagar?

The Oothukkottai Sub Registrar Office handles registrations for Blessings Nagar, located near the government hospital in Uthukottai, 602026, Chennai registration zone.