Guideline Value for Bhagavath Singh Street

Bhagavath Singh Street guideline value

The current guideline value of Bhagavath Singh Street is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, classified as Residential Class V Type - I.

How the guideline value of Bhagavath Singh Street has changed

The guideline value for Bhagavath Singh Street has seen several revisions over the years. The 2007 revision recorded a value of Rs 200 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 536 per sq.ft in 2017, reflecting a 33% drop. The value further increased to Rs 800 per sq.ft in 2023, and most recently, it rose to Rs 850 per sq.ft in the 2024 revision, a change of 6%.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 325%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that have a guideline value for 2024, ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Bhagavath Singh Street's 2024 figure is below this median.

• Bhagavathy Nagar: Rs 1,600 per sq.ft (2024)
• Bethelpuram 1st Street: Rs 950 per sq.ft (2024)
• Bethelpuram 1st Cross Street: Rs 950 per sq.ft (2024)
• Bethelpuram: Rs 950 per sq.ft (2024)
• Bharathamada Street: Rs 4,750 per sq.ft (2024)
• Barath Nagar: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagavath Singh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value would be Rs 8,50,000. The stamp duty at 7% would amount to Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total cost together to Rs 76,500. Please 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 Bhagavath Singh Street?

The Bhagavath Singh Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Selaiyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. The guideline value helps in maintaining transparency in property transactions and assists in the legal documentation required for ownership transfer.

Frequently asked questions

What is the current guideline value of Bhagavath Singh Street?

The current guideline value of Bhagavath Singh Street is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 850 per sq.ft in 2024, reflecting an overall increase of 325% over the years.

What are the stamp duty and registration fees for properties on Bhagavath Singh Street?

For a property valued at Rs 8,50,000, the stamp duty would be Rs 59,500 and the registration fee would be Rs 17,000, totaling Rs 76,500.

Which office handles property registrations for Bhagavath Singh Street?

The Selaiyur Sub Registrar Office handles property registrations for Bhagavath Singh Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum registration value for properties, influencing the calculation of stamp duty and registration fees during property transactions.