Guideline Value for Bai Garden

Bai Garden guideline value

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

How the guideline value of Bai Garden has changed

The guideline value for Bai Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 1,800 per sq.ft, but in 2024, it increased to Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Thus, the only recorded changes are from 2012 to 2024, which show an overall increase of 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 this area is Rs 2,400 per sq.ft, placing Bai Garden's 2024 figure below that median.

• Bai Garden 1st Street: Rs 2,750 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

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the 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, leading to a total of Rs 1,71,000. It is important to note that 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 details.

Which Sub Registrar Office covers Bai Garden?

The Bai Garden area 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 information.

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

The guideline value is a crucial figure used during the registration of property transactions in Madambakkam. It serves as a reference for calculating the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a value that reflects the current market conditions. This process is essential for maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Bai Garden?

The current guideline value of Bai Garden is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bai Garden was Rs 1,800 per sq.ft in both 2012 and 2023. It increased to Rs 1,900 per sq.ft in 2024, marking a 6% increase from the previous year.

What are the guideline values of other streets in Madambakkam?

Other streets in Madambakkam have varying guideline values, with Bai Garden 1st Street at Rs 2,750 per sq.ft, while Bai Garden 1st Street / Avenue, Bai Garden 2nd Street, Bai Garden 3rd Street, and Bai Garden Link Road are all at Rs 1,900 per sq.ft.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property in Bai Garden?

Stamp duty for property in Bai Garden is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000.