Guideline Value for Bai Nagar

Bai Nagar guideline value

The current guideline value of Bai Nagar, located in Chettimedu village under the Redhills SRO, is Rs 1,002 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bai Nagar has changed

The guideline value for Bai Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 268 per sq.ft. This increased to Rs 400 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 1,002 per sq.ft, which reflects a substantial increase of 151% from the previous year.

Overall, from the 2017 revision to the 2024 revision, Bai Nagar's guideline value has increased by 274%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Chettimedu

In Chettimedu, there are 26 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,008 per sq.ft. Bai Nagar's 2024 figure of Rs 1,002 per sq.ft is equal to the median value of this range.

• Baba Nagar: Rs 1,008 per sq.ft (2024)
• Azhagiri Nagar: Rs 1,000 per sq.ft (2024)
• Bhanu Nagar: Rs 1,000 per sq.ft (2024)
• Annai Velankanni Avenue: Rs 1,006 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 1,000 per sq.ft (2024)
• Ananthi Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Bai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total to Rs 90,180. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bai Nagar?

The Sub Registrar Office that covers Bai Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is an important factor in property transactions in Chettimedu. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value as it influences the overall cost of property transactions. Accurate knowledge of this value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Bai Nagar?

The current guideline value of Bai Nagar is Rs 1,002 per sq.ft as per the 2024 revision effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value of Bai Nagar has increased by 274%, rising from Rs 268 per sq.ft to Rs 1,002 per sq.ft.

What were the guideline values in the previous revisions?

The guideline values for Bai Nagar in previous revisions were Rs 268 per sq.ft in 2017, Rs 400 per sq.ft in 2023, and there are no figures available for the revisions in 2002, 2003, 2007, and 2012.

What are the stamp duty and registration fees for property in Bai Nagar?

For a property valued at Rs 10,02,000, the stamp duty would be Rs 70,140 and the registration fee would be Rs 20,040, totaling Rs 90,180.

Which office handles registrations for Bai Nagar?

The Redhills Sub Registrar Office handles registrations for Bai Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.