Guideline Value for Benzigar Nagar

Benzigar Nagar guideline value

The current guideline value of Benzigar Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Nemili village under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Benzigar Nagar has changed

The guideline value for Benzigar Nagar has undergone several revisions over the years. The 2007 revision recorded a value of Rs 80 per sq.ft, which increased significantly to Rs 250 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 167 per sq.ft. The value then rose to Rs 250 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. There are no figures available for the revisions in 2002 and 2003 for this street.

From the 2017 revision to the 2023 revision, the guideline value increased by 50%. The overall change from the 2007 revision to the 2024 revision reflects a substantial increase of 213% in the guideline value.

Guideline values in Nemili

Nemili village has a total of 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft, with a median value of Rs 250 per sq.ft. Benzigar Nagar's 2024 figure aligns with this median.

• Bhagavathy Nagar: Rs 210 per sq.ft (2024)
• Bharathi Nagar: Rs 210 per sq.ft (2024)
• Balaji Nagar: Rs 300 per sq.ft (2024)
• Bajanai Koil Street: Rs 250 per sq.ft (2024)
• Bajanai Koil Cross Street: Rs 210 per sq.ft (2024)
• Asina Nagar: Rs 210 per sq.ft (2024)

Stamp duty and registration fee for property in Benzigar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, leading to a total of Rs 22,500 for these charges. 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 details.

Which Sub Registrar Office covers Benzigar Nagar?

Benzigar Nagar falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nemili. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value or the sale price is considered, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Benzigar Nagar?

The current guideline value of Benzigar Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 250 per sq.ft in 2024, showing an overall increase of 213% over the years.

What are the stamp duty and registration fees for Benzigar Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500.

Which office handles property registrations in Benzigar Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Benzigar Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification for Benzigar Nagar?

Benzigar Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.