Guideline Value for Bagavathi Amman 3rd Street

Bagavathi Amman 3rd Street guideline value

The current guideline value of Bagavathi Amman 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam Sub Registrar Office. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bagavathi Amman 3rd Street has changed

The guideline value for Bagavathi Amman 3rd Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 1,000 per sq.ft, which was a significant increase of 150% to Rs 2,500 per sq.ft in the 2012 revision. The value remained unchanged at Rs 2,500 per sq.ft until the 2023 revision, where it increased to Rs 2,700 per sq.ft, marking an 8% rise.

It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 170%.

Guideline values in Kolathur

In Kolathur, there are a total of 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Bagavathi Amman 3rd Street's 2024 figure below that median.

• Bagavathi Amman 2nd Street: Rs 2,700 per sq.ft (2024)
• Bagavathi Amman 4th Street: Rs 2,700 per sq.ft (2024)
• Bagavathi Amman 1st 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 3rd Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total 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 3rd Street?

The Sembiam Sub Registrar Office, which covers Bagavathi Amman 3rd Street, is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it helps determine the stamp duty and registration fees payable during the buying or selling process. When a property is registered, the guideline value or the sale price, whichever is higher, is used to calculate these fees.

It is essential for buyers and sellers to be aware of the guideline value in their respective areas, as it can impact the overall cost of the transaction. Understanding the guideline value can help in better financial planning when engaging in property dealings.

Frequently asked questions

What is the current guideline value of Bagavathi Amman 3rd Street?

The current guideline value of Bagavathi Amman 3rd 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, marking an overall increase of 170%.

What is the land classification for Bagavathi Amman 3rd Street?

The land classification for Bagavathi Amman 3rd Street is 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.

How is the stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.