Guideline Value for Bagwatsingh Nagar / Extension ( Ward No.10 )

Bagwatsingh Nagar / Extension ( Ward No.10 ) guideline value

The current guideline value for Bagwatsingh Nagar / Extension ( Ward No.10 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bagwatsingh Nagar / Extension ( Ward No.10 ) has changed

Over the years, the guideline value of Bagwatsingh Nagar / Extension has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the 2023 revision of Rs 2,000 per sq.ft. Prior to that, the 2012 revision also recorded a guideline value of Rs 2,000 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. This consistent growth highlights the evolving nature of property values in the area.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Bagwatsingh Nagar / Extension above this median.

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

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 cost for these fees 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bagwatsingh Nagar / Extension ( Ward No.10 )?

The Sub Registrar Office that covers Bagwatsingh Nagar / Extension ( Ward No.10 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state receives the appropriate revenue from property transactions, maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Bagwatsingh Nagar / Extension ( Ward No.10 )?

The current guideline value of Bagwatsingh Nagar / Extension ( Ward No.10 ) 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 changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There was no change from the 2012 revision to the 2023 revision, which also recorded Rs 2,000 per sq.ft.

What are the other streets in Madhavaram and their guideline values?

Other streets in Madhavaram include Bajanai Koil 1st, 2nd, 3rd, and 4th Streets, as well as Baby Krishnan St, all of which have a guideline value of Rs 1,300 per sq.ft in 2024. Bagwatsingh Nagar / Extension stands out with a higher guideline value of Rs 2,200 per sq.ft.

What fees are associated with property transactions in Bagwatsingh Nagar?

For a property in Bagwatsingh Nagar / Extension, the stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft property would incur a total of Rs 1,98,000 in fees based on the current guideline value.

Where can I find the Sub Registrar Office for Bagwatsingh Nagar?

The Sub Registrar Office for Bagwatsingh Nagar / Extension is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details by visiting the appropriate online resource.