Guideline Value for Bell Nagar

Bell Nagar guideline value

The current guideline value of Bell Nagar, located in Madanandapuram village under the Kunrathur SRO, is Rs 3,520 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification.

How the guideline value of Bell Nagar has changed

The guideline value of Bell Nagar has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012, marking a substantial rise of 433%. However, this value decreased to Rs 2,144 per sq.ft in 2017, a decline of 33%. The value then rose sharply to Rs 3,200 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 3,520 per sq.ft in 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 487%.

Guideline values in Madanandapuram

Madanandapuram village has a total of 94 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median guideline value for these streets is Rs 3,520 per sq.ft, which is equal to the current value of Bell Nagar.

• Balraj Nagar: Rs 3,190 per sq.ft (2024)
• Blackberry Street: Rs 2,530 per sq.ft (2024)
• Balaji Avenue: Rs 3,190 per sq.ft (2024)
• Bajanai Koil Street (West): Rs 3,190 per sq.ft (2024)
• Bajanai Koil Street (East): Rs 3,190 per sq.ft (2024)
• Bajanai Koil Mettu colony: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Bell Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost together to Rs 3,16,800. The duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bell Nagar?

The Sub Registrar Office that covers Bell Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Madanandapuram. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is referenced to ensure compliance with local regulations. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can affect the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Bell Nagar?

The current guideline value of Bell Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 600 per sq.ft to Rs 3,520 per sq.ft in 2024, reflecting a total increase of 487% over the years.

What is the land classification for Bell Nagar?

Bell Nagar falls under the Residential Special Type - II land classification, as per the guidelines set by the local authorities.

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

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it handles registrations for Bell Nagar.