Guideline Value for Bhagadhur Street

Bhagadhur Street guideline value

The current guideline value of Bhagadhur Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Bhagadhur Street has changed

The guideline value for Bhagadhur Street has seen several revisions over the years. In 2007, the guideline value was Rs 3,000 per sq.ft. This increased significantly to Rs 8,000 per sq.ft in 2012, marking a 167% rise. However, it then decreased to Rs 5,360 per sq.ft in 2017, reflecting a drop of 33%. In 2023, the value rose again to Rs 8,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 8,800 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for Bhagadhur Street in the revisions for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value among these streets is Rs 8,800 per sq.ft, which is equal to the current guideline value of Bhagadhur Street.

• Begum Sahib Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib Lane: Rs 9,900 per sq.ft (2024)
• Begum Sahib 7th Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 6th Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 5th Street: Rs 9,900 per sq.ft (2024)
• Begum Sahib 4th Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagadhur Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bhagadhur Street?

The Sub Registrar Office that covers Bhagadhur Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bhagadhur Street?

The current guideline value of Bhagadhur Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 3,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What is the land classification for Bhagadhur Street?

The land classification for Bhagadhur Street is Residential Special Type - II, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Bhagadhur Street?

The Sub Registrar Office for Bhagadhur Street is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in Bhagadhur Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 88,00,000, the stamp duty would be calculated accordingly.