Guideline Value for Bhagavathi Street

Bhagavathi Street guideline value

The current guideline value of Bhagavathi Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Bhagavathi Street has changed

Over the years, the guideline value of Bhagavathi Street has seen several revisions. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, up from Rs 2,000 per sq.ft in 2023, marking a 10% increase. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft, which had risen by 49% to reach Rs 2,000 per sq.ft in 2023. The 2012 revision also recorded Rs 2,000 per sq.ft, but there was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value increased by 10%.

It is important to note that the register has no figures for Bhagavathi Street in the years 2002, 2003, and 2007. The historical values reflect the changes in the guideline value over time, providing insight into the pricing trends associated with this location.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. Bhagavathi Street's 2024 figure of Rs 2,200 per sq.ft is below this median.

• Bhagavathi 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Bethesda Street (Nethaji Nagar): Rs 2,700 per sq.ft (2024)
• Bharathidasan 1st Street: Rs 2,200 per sq.ft (2024)
• Bharathidasan Salai: Rs 2,200 per sq.ft (2024)
• Bharathidasan Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagavathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhagavathi Street?

The Sub Registrar Office that covers Bhagavathi Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as the minimum value for the property, ensuring that the transaction is recorded at a fair price as determined by the government. Buyers and sellers must consider this value as it directly impacts the stamp duty and registration fees applicable during the registration process.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. It is essential for both parties involved in the transaction to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bhagavathi Street?

The current guideline value of Bhagavathi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 10% from 2012 to 2024.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office handles transactions for Bhagavathi Street?

The Madhavaram Sub Registrar Office at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Bhagavathi Street.

What is the land classification for Bhagavathi Street?

Bhagavathi Street is classified as Residential Class II Type - I.