Guideline Value for Beema Naicker Thottam

Beema Naicker Thottam guideline value

The current guideline value of Beema Naicker Thottam is Rs 3,100 per sq.ft, effective from 1 July 2024. This area is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Beema Naicker Thottam has changed

Over the years, the guideline value of Beema Naicker Thottam has seen several revisions. The earliest recorded revision is from 2012, where the guideline value was Rs 2,800 per sq.ft. This was followed by a decrease in 2017 to Rs 1,876 per sq.ft. In 2023, the value increased significantly to Rs 2,800 per sq.ft again, and the most recent revision in 2024 set the value at Rs 3,100 per sq.ft. Notably, the register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects an increase of 11%. Overall, when comparing the values from 2012 to 2024, there has been an increase of 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, which is equal to the current guideline value of Beema Naicker Thottam.

• Bethania Nagar Annex: Rs 2,750 per sq.ft (2024)
• Bhakyalakshmi Nagar 1st Street: Rs 3,100 per sq.ft (2024)
• Bhakyalakshmi Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• Bhakyalakshmi Nagar 3rd Street: Rs 3,100 per sq.ft (2024)
• Bhakyalakshmi Nagar 4th Street: Rs 3,100 per sq.ft (2024)
• Bharathi Nagar 1st Street: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Beema Naicker Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value would be Rs 31,00,000. The stamp duty at 7% would amount to Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total fees to Rs 2,79,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Beema Naicker Thottam?

The Sub Registrar Office that covers Beema Naicker Thottam is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Ramapuram. It is used to determine the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is the baseline for calculating stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Beema Naicker Thottam?

The current guideline value of Beema Naicker Thottam is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then back to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification of Beema Naicker Thottam?

Beema Naicker Thottam is classified as Residential Class II Type - I.

Where is the Sub Registrar Office located for Beema Naicker Thottam?

The Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Beema Naicker Thottam?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 31,00,000, the stamp duty at 7% would amount to Rs 2,17,000.