Guideline Value for Bagawath Singh Street

Bagawath Singh Street guideline value

The current guideline value of Bagawath Singh Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Bagawath Singh Street has changed

Over the years, the guideline value for Bagawath Singh Street has seen several revisions. The earliest available figure is from 2012, where it was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. In 2023, the value was revised to Rs 1,500 per sq.ft, and the most recent revision in 2024 increased it to Rs 1,650 per sq.ft.

The changes between the revisions show a notable increase from 2017 to 2023, with a rise of 49%. The guideline value then increased by 10% from 2023 to 2024. Overall, 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 Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which matches the current guideline value of Bagawath Singh Street.

• Babu Street: Rs 2,750 per sq.ft (2024)
• Babu Cross Street: Rs 2,750 per sq.ft (2024)
• Ayyappa Nagar: Rs 3,300 per sq.ft (2024)
• AS.P.I Colony 3rd street: Rs 1,650 per sq.ft (2024)
• AS.P.I Colony 2nd street: Rs 1,650 per sq.ft (2024)
• AS.P.I Colony 1st street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Bagawath Singh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bagawath Singh Street?

The Sub Registrar Office that covers Bagawath Singh 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 Chitlapakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a baseline for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Bagawath Singh Street?

The current guideline value of Bagawath Singh Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with notable changes occurring in 2017 and 2023.

What is the stamp duty on property in Bagawath Singh Street?

The stamp duty for a property in Bagawath Singh Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, this amounts to Rs 1,15,500.

Where can I find the Sub Registrar Office for Bagawath Singh Street?

The Sub Registrar Office for Bagawath Singh Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the significance of the guideline value in property transactions?

The guideline value is significant in property transactions as it determines the basis for calculating stamp duty and registration fees. It ensures that properties are registered at a value that reflects their worth as per government standards.