Guideline Value

Corporate

Guideline Value for BagathSingh Street

₹1650/sq.ft.

The guideline value for Bagathsingh Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 1650 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹1650 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bagathsingh Street

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BagathSingh Street guideline value

The current guideline value of BagathSingh Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of BagathSingh Street has changed

The guideline value for BagathSingh Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 1,650 per sq.ft, marking a 10% increase from the previous year and a significant overall increase of 64% from 2017.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, reflecting the changing landscape of property values in the area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets that carry a guideline value for 2024, ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. BagathSingh Street's guideline value of Rs 1,650 per sq.ft is below this median.

Stamp duty and registration fee for property in BagathSingh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers BagathSingh Street?

The Sub Registrar Office that covers BagathSingh Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that the transaction is in line with the government's valuation standards. Buyers and sellers should be aware of these values to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of BagathSingh Street?

The current guideline value of BagathSingh Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty and registration fees for properties on BagathSingh Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office handles registrations for BagathSingh Street?

The Velacheri Sub Registrar Office handles registrations for BagathSingh Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the fees are aligned with government valuations, making it essential for buyers and sellers to be aware of these values.