Guideline Value for Bai Garden 3rd Street

Bai Garden 3rd Street guideline value

The current guideline value of Bai Garden 3rd Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Bai Garden 3rd Street has changed

The guideline value for Bai Garden 3rd Street has seen several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 1,900 per sq.ft, a change of 6% from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in the village is Rs 2,400 per sq.ft, placing Bai Garden 3rd Street's 2024 figure below that median.

• Bai Garden 2nd Street: Rs 1,900 per sq.ft (2024)
• Bai Garden Link Road: Rs 1,900 per sq.ft (2024)
• Bai Garden 1st Street / Avenue: Rs 1,900 per sq.ft (2024)
• Bai Garden 1st Street: Rs 2,750 per sq.ft (2024)
• Bai Garden: 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bai Garden 3rd Street?

The Bai Garden 3rd Street falls under 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 information.

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

The guideline value is a crucial factor when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the established values for different properties in the area.

Frequently asked questions

What is the current guideline value of Bai Garden 3rd Street?

The current guideline value of Bai Garden 3rd Street is Rs 1,900 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 increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, which is higher than the current value of Bai Garden 3rd Street.

What are the stamp duty and registration fees for property in Bai Garden 3rd Street?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles the registration for Bai Garden 3rd Street?

The Selaiyur Sub Registrar Office handles the registration for Bai Garden 3rd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.