Guideline Value for Bagavathi Amman 1st Street

Bagavathi Amman 1st Street guideline value

The current guideline value of Bagavathi Amman 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bagavathi Amman 1st Street has changed

The guideline value for Bagavathi Amman 1st Street has undergone several revisions over the years. The earliest recorded value was Rs 1,000 per sq.ft in 2007, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value then dropped to Rs 1,675 per sq.ft in 2017. Following this, the guideline value rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 represents an 8% increase. The overall change from 2007 to 2024 is a substantial 170%, reflecting the fluctuations in the property market over the years.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Bagavathi Amman 1st Street is below this median.

• Bagavathi Amman 2nd Street: Rs 2,700 per sq.ft (2024)
• Bagavathi Amman 3rd Street: Rs 2,700 per sq.ft (2024)
• Bagavathi Amman 4th Street: Rs 2,700 per sq.ft (2024)
• Bagavathi Amman 5th Street: Rs 2,700 per sq.ft (2024)
• Bagavathi Amman Colony: Rs 2,700 per sq.ft (2024)
• Bajanai Koil Street @ Kannabiran Bajanai Koil Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bagavathi Amman 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bagavathi Amman 1st Street?

The Sub Registrar Office that covers Bagavathi Amman 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Bagavathi Amman 1st Street?

The current guideline value of Bagavathi Amman 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting a total increase of 170% over the years.

What is the land classification for Bagavathi Amman 1st Street?

Bagavathi Amman 1st Street is classified as Residential Class II Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the stamp duty rate for properties in Bagavathi Amman 1st Street?

The stamp duty rate for properties in Bagavathi Amman 1st Street is 7%, applied to the higher of the guideline value or the sale price.