Guideline Value for Bhagavathy Nagar

Bhagavathy Nagar guideline value

The current guideline value of Bhagavathy Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Nemili_B village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bhagavathy Nagar has changed

The guideline value for Bhagavathy Nagar has seen several revisions over the years. The most recent revision in 2024 maintains the rate at Rs 200 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 134 per sq.ft, marking a significant increase of 49% from 2017 to 2023 and an overall increase of 49% from 2017 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nemili_B

In Nemili_B, there are 97 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,500 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 200 per sq.ft (2024)
• Bangaru Ammal Nagar: Rs 250 per sq.ft (2024)
• Bharathiyar Street: Rs 150 per sq.ft (2024)
• Balaji Nagar: Rs 300 per sq.ft (2024)
• Bajanai Koil Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagavathy Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhagavathy Nagar?

The Sub Registrar Office that covers Bhagavathy Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nemili_B. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the correct revenue from property sales.

When a property is registered, the guideline value serves as a benchmark for assessing the sale price. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Bhagavathy Nagar?

The current guideline value of Bhagavathy Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2023 to 2024, and increased from Rs 134 per sq.ft in 2017, marking a 49% increase over that period.

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

Other streets in Nemili_B include Benzigar Nagar at Rs 250 per sq.ft, Bharathi Nagar at Rs 200 per sq.ft, and Bangaru Ammal Nagar at Rs 250 per sq.ft, among others.

How is stamp duty calculated in Bhagavathy Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at a rate of 7%.

Where can I find the Sub Registrar Office for Bhagavathy Nagar?

The Sub Registrar Office for Bhagavathy Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.