Guideline Value for Bhagavathy Nagar

Bhagavathy Nagar guideline value

The current guideline value of Bhagavathy Nagar is Rs 210 per sq.ft, effective from 1 July 2024. This locality is situated in Nemili village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bhagavathy Nagar has changed

Looking at the historical revisions, the guideline value for Bhagavathy Nagar was Rs 200 per sq.ft in 2023, an increase from Rs 134 per sq.ft in 2017. The 2012 revision also recorded a value of Rs 200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 5%.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft, with a median value of Rs 250 per sq.ft. Bhagavathy Nagar's 2024 figure is below this median.

• Benzigar Nagar: Rs 250 per sq.ft (2024)
• Bharathi Nagar: Rs 210 per sq.ft (2024)
• Balaji Nagar: Rs 300 per sq.ft (2024)
• Bajanai Koil Street: Rs 250 per sq.ft (2024)
• Bajanai Koil Cross Street: Rs 210 per sq.ft (2024)
• Asina nagar: Rs 210 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagavathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 210 per sq.ft, the total guideline value amounts to Rs 2,10,000. The stamp duty at 7% would be Rs 14,700, and the registration fee at 2% would be Rs 4,200, bringing the total to Rs 18,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhagavathy Nagar?

The Bhagavathy Nagar locality falls under the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when registering a property in Nemili. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately for taxation purposes.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs involved in the transaction. This value serves as a benchmark for both buyers and sellers during negotiations.

Frequently asked questions

What is the current guideline value of Bhagavathy Nagar?

The current guideline value of Bhagavathy Nagar is Rs 210 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 2023 to Rs 210 per sq.ft in 2024. It was Rs 134 per sq.ft in 2017, and Rs 200 per sq.ft in 2012.

What is the land classification of Bhagavathy Nagar?

Bhagavathy Nagar is classified as Residential Class III Type - I. This classification indicates the type of development allowed in the area.

What are the other streets in Nemili with their guideline values?

Other streets in Nemili include Benzigar Nagar at Rs 250 per sq.ft, Bharathi Nagar at Rs 210 per sq.ft, and Balaji Nagar at Rs 300 per sq.ft, among others.

Where is the Sriperumpudur Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles the registration of properties in the Bhagavathy Nagar area.