Guideline Value for Bagavathi Nagar

Bagavathi Nagar guideline value

The current guideline value of Bagavathi Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village, under the Gooduvancheri SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Bagavathi Nagar has changed

The guideline value for Bagavathi Nagar has seen several revisions over the years. The earliest recorded value was Rs 92 per sq.ft in 2002, which increased significantly to Rs 328 per sq.ft in 2007, marking a 257% rise. In 2012, the value reached Rs 1,200 per sq.ft, representing a 266% increase from the previous revision. However, it then decreased to Rs 804 per sq.ft in 2017, reflecting a decline of 33%.

From 2017 to 2023, the guideline value remained stable at Rs 1,200 per sq.ft, indicating no change during this period. The most recent revision in 2024 again set the value at Rs 1,200 per sq.ft, maintaining the same rate as the previous year. Notably, there is no figure recorded for this street in the 2003 revision.

Guideline values in Nandhivaram

Nandhivaram has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,500 per sq.ft, placing Bagavathi Nagar's 2024 figure below this median.

• Bajanaikovil Street: Rs 1,200 per sq.ft (2024)
• Balaji Avenue: Rs 1,500 per sq.ft (2024)
• Balaji Avenue Extn.: Rs 1,500 per sq.ft (2024)
• Balaji Nagar: Rs 1,500 per sq.ft (2024)
• Arul Nagar: Rs 2,000 per sq.ft (2024)
• Balasubramaniyam Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bagavathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty, charged at 7%, would be Rs 84,000, and the registration fee, at 2%, would be Rs 24,000, bringing the total fees to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your property details.

Which Sub Registrar Office covers Bagavathi Nagar?

The Sub Registrar Office that covers Bagavathi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nandhivaram. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial obligations involved in property transactions.

When a property is sold, the guideline value is used to determine the minimum value for which the property can be registered. This ensures that all transactions are recorded at a fair value, preventing undervaluation and ensuring that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Bagavathi Nagar?

The current guideline value of Bagavathi Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 92 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, marking an overall increase of 1204% over the years.

What is the land classification for Bagavathi Nagar?

Bagavathi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Bagavathi Nagar?

The registration office for Bagavathi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Bagavathi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 12,00,000 would incur a stamp duty of Rs 84,000.