Guideline Value for Bagyalakshmi Nagar

Bagyalakshmi Nagar guideline value

The current guideline value of Bagyalakshmi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Kobarasanallur village under the Kunrathur SRO, and the land classification is Mixed Special Type - II.

How the guideline value of Bagyalakshmi Nagar has changed

The guideline value for Bagyalakshmi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023 and further to Rs 1,980 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2017 to 2023 revision saw a substantial increase of 49%, while the 2012 to 2017 period experienced a decrease of 33%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kobarasanallur

In Kobarasanallur, there are 28 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,180 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which is equal to the current guideline value of Bagyalakshmi Nagar.

• Bharathi Nagar: Rs 1,980 per sq.ft (2024)
• Anandam Nagar: Rs 1,980 per sq.ft (2024)
• A.K.Nagar: Rs 1,980 per sq.ft (2024)
• Aishwarya Garden Annexe: Rs 1,650 per sq.ft (2024)
• Aishwarya Garden: Rs 1,980 per sq.ft (2024)
• Adi Sakthi Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Bagyalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Bagyalakshmi Nagar?

The Sub Registrar Office that covers Bagyalakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kobarasanallur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on an official value rather than the negotiated sale price.

When engaging in property transactions, it is essential to be aware of the guideline value, as it impacts the overall financial obligations during the registration process. Buyers and sellers should ensure they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Bagyalakshmi Nagar?

The current guideline value of Bagyalakshmi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 in 2023, and finally to Rs 1,980 in 2024.

What is the land classification for Bagyalakshmi Nagar?

Bagyalakshmi Nagar is classified as Mixed Special Type - II.

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

The Sub Registrar Office for Bagyalakshmi Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for property in Bagyalakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,38,600.