Guideline Value for Bhaghat Singh Street

Bhaghat Singh Street guideline value

The current guideline value of Bhaghat Singh Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bhaghat Singh Street has changed

The guideline value for Bhaghat Singh Street has seen several revisions over the years. In 2002, the guideline value was Rs 282 per sq.ft, which increased to Rs 316 per sq.ft in 2003, marking a rise of 12%. The value then surged significantly to Rs 1,200 per sq.ft in 2007, reflecting an increase of 280%. Following this, the value rose to Rs 2,500 per sq.ft in 2012, which was an increase of 108%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. In 2023, the guideline value was revised to Rs 2,500 per sq.ft, showing a substantial increase of 49%. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, which is a 12% increase from the previous year.

There are no figures available in the register for any revisions prior to 2002 or after 2024 for Bhaghat Singh Street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO, with guideline values ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,800 per sq.ft, which is equal to the 2024 figure for Bhaghat Singh Street.

• Bharathi Cross Street: Rs 2,800 per sq.ft (2024)
• Bharathidasan Street: Rs 2,800 per sq.ft (2024)
• Bharathi Street: Rs 2,200 per sq.ft (2024)
• Bharathiyar Street: Rs 2,800 per sq.ft (2024)
• Bhavani Colony / Venkatesa Nagar: Rs 2,800 per sq.ft (2024)
• Balammal Nagar Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bhaghat Singh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhaghat Singh Street?

The Sub Registrar Office that covers Bhaghat Singh Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

When a property transaction occurs, the guideline value is used to assess the official value of the property, which helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Bhaghat Singh Street?

The current guideline value of Bhaghat Singh Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 282 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 893% over the years.

What is the land classification for Bhaghat Singh Street?

Bhaghat Singh Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Bhaghat Singh Street?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 28,00,000, the total fees would amount to Rs 2,52,000.

Where can I find the Sub Registrar Office for Bhaghat Singh Street?

The Alandur Sub Registrar Office, which covers Bhaghat Singh Street, is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.