Guideline Value for Bhagavath Singh Street

Bhagavath Singh Street guideline value

The current guideline value of Bhagavath Singh Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kadaperi village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Bhagavath Singh Street has changed

The guideline value for Bhagavath Singh Street has undergone several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 275% rise. However, in 2017, the value saw a decrease to Rs 1,005 per sq.ft, a drop of 33%. The 2023 revision brought the value up to Rs 1,500 per sq.ft, and the latest revision in 2024 has increased it further to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 313%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 7,700 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the 2024 guideline value of Bhagavath Singh Street.

• Bound Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,100 per sq.ft (2024)
• Bukthavatchalam Street: Rs 880 per sq.ft (2024)
• Burma colony: Rs 1,650 per sq.ft (2024)
• Burma Colony 2-nd St: Rs 1,100 per sq.ft (2024)
• Burma Colony 3rd St: Rs 1,100 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. It is important to note that 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 Sub Registrar Office that covers Bhagavath Singh Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Kadaperi

The guideline value is a critical factor when buying or selling property in Kadaperi. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. The guideline value serves as a benchmark for property transactions and ensures that the government receives the appropriate revenue from property sales.

When a property is registered, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is conducted fairly and transparently, reflecting the true value of the property in the market.

Frequently asked questions

What is the current guideline value of Bhagavath Singh Street?

The current guideline value of Bhagavath Singh Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 313% across the years.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration for Bhagavath Singh Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Bhagavath Singh Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What does the guideline value indicate?

The guideline value indicates the minimum value set by the government for property transactions in a specific area, which is used to calculate stamp duty and registration fees during property sales.