Guideline Value for Bagiyalakshmi Avenue

Bagiyalakshmi Avenue guideline value

The current guideline value of Bagiyalakshmi Avenue is Rs 1,300 per sq.ft. This street is located in Nalambakkam village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Bagiyalakshmi Avenue has changed

Over the years, the guideline value of Bagiyalakshmi Avenue has seen several revisions. The most recent revision in 2023 set the guideline value at Rs 1,300 per sq.ft, which is the same as the 2012 revision. However, in 2017, the value was Rs 871 per sq.ft, showing a significant increase of 49% from 2017 to 2023. The 2012 revision also marked a decrease of 33% from the previous revision in 2017.

Overall, from 2012 to 2023, the guideline value has remained unchanged at Rs 1,300 per sq.ft. It is important to note that there are no figures available for the revisions in 2024, 2007, 2003, and 2002 for this street.

Guideline values in Nalambakkam

Currently, there are no specific guideline values for other streets in Nalambakkam under the Gooduvancheri SRO. Thus, Bagiyalakshmi Avenue stands out with its defined guideline value.

Stamp duty and registration fee for property in Bagiyalakshmi Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Bagiyalakshmi Avenue?

Bagiyalakshmi Avenue is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nalambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is conducted in compliance with legal requirements and that the appropriate fees are collected.

Frequently asked questions

What is the current guideline value of Bagiyalakshmi Avenue?

The current guideline value of Bagiyalakshmi Avenue is Rs 1,300 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, and then back to Rs 1,300 per sq.ft in 2023. This reflects a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017.

What is the land classification for Bagiyalakshmi Avenue?

Bagiyalakshmi Avenue is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot at Rs 1,300 per sq.ft, the total stamp duty and registration fees would amount to Rs 1,17,000.