Guideline Value for Bai Garden 1st Street / Avenue

Bai Garden 1st Street / Avenue guideline value

The current guideline value of Bai Garden 1st Street / Avenue is Rs 1,900 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 Residential Class I Type - I.

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

In the 2012 revision, the guideline value was Rs 1,800 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,800 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2017 for Bai Garden 1st Street / Avenue. 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 value is Rs 2,400 per sq.ft, placing Bai Garden 1st Street / Avenue's 2024 figure below this median.

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

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 important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations based on your specific property.

Which Sub Registrar Office covers Bai Garden 1st Street / Avenue?

The Bai Garden 1st Street / Avenue 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 further assistance.

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

The guideline value is a critical factor in property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction. This ensures that the property is not undervalued for tax purposes, as the stamp duty is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

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

The current guideline value of Bai Garden 1st Street / Avenue 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 remained at Rs 1,800 per sq.ft from 2012 to 2023, before increasing to Rs 1,900 per sq.ft in 2024. Overall, there has been a 6% increase from 2012 to 2024.

What are the other streets in Madambakkam with their guideline values?

Other streets in Madambakkam include Bai Garden 2nd Street, Bai Garden 3rd Street, Bai Garden, Bai Garden Link Road, and Azhagar Street, with varying guideline values. For instance, Bai Garden 2nd Street and Bai Garden 3rd Street both have a guideline value of Rs 1,900 per sq.ft in 2024.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles the registration of properties in the area.

How is stamp duty calculated based on the guideline value?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 19,00,000, the stamp duty at 7% would be Rs 1,33,000.