Guideline Value for Bhagavathi Pondy Street

Bhagavathi Pondy Street guideline value

The current guideline value of Bhagavathi Pondy Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Bhagavathi Pondy Street has changed

The guideline value for Bhagavathi Pondy Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,200 per sq.ft. In the subsequent revision in 2017, the value decreased to Rs 804 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, followed by the latest revision in 2024, which set the value at Rs 1,300 per sq.ft, representing an 8% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value saw a substantial rise of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no recorded figures for Bhagavathi Pondy Street in the revisions from 2002, 2003, and 2007.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are a total of 384 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, indicating that Bhagavathi Pondy Street's 2024 figure is below this median.

• Bhagavan Ramanar Street: Rs 880 per sq.ft (2024)
• Berahcah Nagar: Rs 1,300 per sq.ft (2024)
• Bharathidasan 1st Street: Rs 1,600 per sq.ft (2024)
• Bharathidasan Nagar 1st Cross Street: Rs 1,600 per sq.ft (2024)
• Bharathidasan Nagar 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Bharathidasan Nagar 2nd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagavathi Pondy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total charges to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhagavathi Pondy Street?

Bhagavathi Pondy Street falls under the jurisdiction of 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 details.

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

The guideline value is an essential factor during the registration of property transactions in Rajakilpakkam. It serves as a reference point 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 registered, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately and in compliance with local regulations. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Bhagavathi Pondy Street?

The current guideline value of Bhagavathi Pondy Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 1,200 per sq.ft in 2012, dropping to Rs 804 per sq.ft in 2017, then increasing to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,300 per sq.ft in 2024.

What is the classification of Bhagavathi Pondy Street?

Bhagavathi Pondy Street is classified as Residential Class II Type - II under the local land classification regulations.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Bhagavathi Pondy Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 1,17,000.