Guideline Value for Baganathan Lane

Baganathan Lane guideline value

The current guideline value of Baganathan Lane is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet Sub Registrar Office. The land classification for this area is Residential Class II Type - I.

How the guideline value of Baganathan Lane has changed

The guideline value for Baganathan Lane has seen several revisions over the years. In 2003, the value was Rs 797 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a 25% rise. The value then jumped significantly to Rs 3,500 per sq.ft in 2012, representing a 250% increase. However, it decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,800 per sq.ft from the 2024 revision, reflecting a 9% increase from the previous year.

It is important to note that there is no figure available for Baganathan Lane in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 377%.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft as of 2024. The median guideline value in this area is Rs 4,400 per sq.ft, placing Baganathan Lane's 2024 figure below this median.

• Badri Veerasamy Street: Rs 4,400 per sq.ft (2024)
• Badrian Street: Rs 8,800 per sq.ft (2024)
• Bajanai Koil Lane: Rs 6,600 per sq.ft (2024)
• Bajanai Koil Street: Rs 4,400 per sq.ft (2024)
• Baksar Street: Rs 8,800 per sq.ft (2024)
• Ayya Pillai Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Baganathan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000. Together, the total cost for these fees would be Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Baganathan Lane?

The Sub Registrar Office that covers Baganathan Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Baganathan Lane?

The current guideline value of Baganathan Lane is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 797 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, showing an overall increase of 377% over the years.

What is the land classification of Baganathan Lane?

Baganathan Lane is classified as Residential Class II Type - I, which indicates its use for residential purposes.

Where can I find the Sub Registrar Office for Baganathan Lane?

The Sowcarpet Sub Registrar Office covers Baganathan Lane and is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 38,00,000, the total fees would amount to Rs 3,42,000.