Guideline Value for Bai Garden 1st Street

Bai Garden 1st Street guideline value

The current guideline value of Bai Garden 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Bai Garden 1st Street has changed

The guideline value for Bai Garden 1st Street has seen revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 2,500 per sq.ft. The most recent revision in 2024 increased this figure to Rs 2,750 per sq.ft, marking a change of +10% from the 2012 revision. Notably, the register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

From the 2012 revision to the 2024 revision, the increase reflects changes in the market dynamics and land classification. The guideline value has consistently been updated to align with the evolving landscape of property values in the area.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, positioning Bai Garden 1st Street above this median at Rs 2,750 per sq.ft.

• Bai Garden: Rs 1,900 per sq.ft (2024)
• Bai Garden 1st Street / Avenue: Rs 1,900 per sq.ft (2024)
• Bai Garden 2nd Street: Rs 1,900 per sq.ft (2024)
• Bai Garden 3rd Street: Rs 1,900 per sq.ft (2024)
• Bai Garden Link Road: Rs 1,900 per sq.ft (2024)
• Azhagar Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bai Garden 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would then be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, resulting in a total of Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bai Garden 1st Street?

The Bai Garden 1st Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications involved.

During the registration process, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bai Garden 1st Street?

The current guideline value of Bai Garden 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, reflecting a +10% change. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the land classification for Bai Garden 1st Street?

The land classification for Bai Garden 1st Street is Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the registration fees for property transactions?

The registration fees are calculated based on the guideline value, which is Rs 2,750 per sq.ft for Bai Garden 1st Street. The stamp duty is 7%, and the registration fee is 2% of the guideline value.

Which office handles property registrations for Bai Garden 1st Street?

The Selaiyur Sub Registrar Office handles property registrations for Bai Garden 1st Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.