Guideline Value for Bhagavathsingh Street

Bhagavathsingh Street guideline value

The current guideline value of Bhagavathsingh Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bhagavathsingh Street has changed

The guideline value for Bhagavathsingh Street has seen several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a rise of 49%. The latest revision in 2024 has set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no registered figures for Bhagavathsingh Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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, which is equal to the current guideline value of Bhagavathsingh Street.

• Bhagavandas street: Rs 4,400 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 Bhagavathsingh Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhagavathsingh Street?

The Bhagavathsingh Street falls under 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 Tambaram

The guideline value is a crucial factor during the registration of property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Bhagavathsingh Street?

The current guideline value of Bhagavathsingh Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Bhagavathsingh Street?

Bhagavathsingh Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in Bhagavathsingh Street?

The stamp duty rate for properties in Bhagavathsingh Street is 7%, which is calculated on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Bhagavathsingh Street located?

The Sub Registrar Office for Bhagavathsingh Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.