Guideline Value for Bhagavandas street

Bhagavandas street guideline value

The current guideline value of Bhagavandas street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - II.

How the guideline value of Bhagavandas street has changed

Over the years, the guideline value of Bhagavandas street has seen significant changes. The 2007 revision set the value at Rs 400 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a rise of 900%. However, in the 2017 revision, the value dropped to Rs 2,680 per sq.ft, a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in the 2023 revision, and most recently, it has increased to Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for Bhagavandas street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 1000%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Bhagavandas street's 2024 figure above this median.

• Bhagavathsingh Street: Rs 3,300 per sq.ft (2024)
• Bethdhel puram: Rs 1,320 per sq.ft (2024)
• Bemaswaran Koil St: Rs 3,300 per sq.ft (2024)
• Bharathidasan Nagar: Rs 2,200 per sq.ft (2024)
• Bharathidasan Nagar Prathana Main Road: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Jothi Nagar Ext: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagavandas street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Bhagavandas street?

The Bhagavandas street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find more details, you can find your SRO.

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

The guideline value is a crucial factor during property transactions in Tambaram. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory when registering a property. Buyers and sellers must consider the guideline value to ensure compliance with the local regulations.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the transaction is documented at a fair value, preventing undervaluation and potential legal issues.

Frequently asked questions

What is the current guideline value of Bhagavandas street?

The current guideline value of Bhagavandas street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1000% over this period.

What is the land classification of Bhagavandas street?

Bhagavandas street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where is the Tambaram Joint 1 SRO located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Bhagavandas street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.