Guideline Value for Bagavathi Street

Bagavathi Street guideline value

The current guideline value of Bagavathi Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village, under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Bagavathi Street has changed

The guideline value for Bagavathi Street has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Bagavathi Street's 2024 figure below this median.

• Baaventhar street: Rs 2,200 per sq.ft (2024)
• Avvai Street Extension: Rs 1,100 per sq.ft (2024)
• Avvai St cross st: Rs 1,100 per sq.ft (2024)
• Avvai St: Rs 2,200 per sq.ft (2024)
• A.V. Gardens: Rs 2,220 per sq.ft (2024)
• A.S.Rajan Nagar Extn: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Bagavathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that 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 Street?

The Sub Registrar Office that covers Bagavathi Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peerklankaranai. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are collected based on the value of the property, either the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Bagavathi Street?

The current guideline value of Bagavathi Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the median guideline value in Peerklankaranai?

The median guideline value for the 322 streets in Peerklankaranai is Rs 1,650 per sq.ft, which is above the current value of Bagavathi Street.

What fees are applicable when buying property in Bagavathi Street?

The fees applicable include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bagavathi Street?

The Sub Registrar Office for Bagavathi Street is located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information online.