Guideline Value for Bagavathsingh Nagar / Street

Bagavathsingh Nagar / Street guideline value

The current guideline value of Bagavathsingh Nagar / Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bagavathsingh Nagar / Street has changed

The guideline value for Bagavathsingh Nagar / Street has seen revisions over the years. In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 2,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Bagavathsingh Nagar / Street's 2024 figure above this median.

• Bagwatsingh Nagar / Extension ( Ward No.10 ): Rs 2,200 per sq.ft (2024)
• Bajanai Koil 1st Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Baby Krishnan St ( Ward No.2 ): Rs 1,300 per sq.ft (2024)
• Bajanai Koil 2nd Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Bajanai Koil 3rd Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Bajanai Koil 4th Street (Ward 22): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bagavathsingh Nagar / Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bagavathsingh Nagar / Street?

The Sub Registrar Office that covers Bagavathsingh Nagar / Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction reflects the prevailing market conditions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Bagavathsingh Nagar / Street?

The current guideline value of Bagavathsingh Nagar / Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,000 per sq.ft from 2012 until 2023. In 2024, it increased to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

What is the land classification of Bagavathsingh Nagar / Street?

Bagavathsingh Nagar / Street is classified as Residential Class I Type - I.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Bagavathsingh Nagar / Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.