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Guideline Value

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Guideline Value for Bhagirathi Nagar 2nd Cross Street Vallal Ori Street

₹3850/sq.ft.

The guideline value for Bhagirathi Nagar 2nd Cross Street Vallal Ori Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bhagirathi Nagar 2nd Cross Street Vallal Ori Street

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Bhagirathi Nagar 2nd Cross Street Vallal Ori Street guideline value

The current guideline value for Bhagirathi Nagar 2nd Cross Street Vallal Ori Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bhagirathi Nagar 2nd Cross Street Vallal Ori Street has changed

The guideline value for Bhagirathi Nagar 2nd Cross Street Vallal Ori Street has undergone several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The most recent revision prior to 2024 was in 2023, where the guideline value was Rs 3,500 per sq.ft. This indicates an increase of 10% to the current value of Rs 3,850 per sq.ft in 2024.

In summary, the guideline value changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. This increase reflects the adjustments made in the valuation of properties in this area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing the 2024 figure for Bhagirathi Nagar 2nd Cross Street Vallal Ori Street above this median.

Stamp duty and registration fee for property in Bhagirathi Nagar 2nd Cross Street Vallal Ori Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhagirathi Nagar 2nd Cross Street Vallal Ori Street?

The Sub Registrar Office that covers Bhagirathi Nagar 2nd Cross Street Vallal Ori Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both parties are aware of the financial implications involved in the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Bhagirathi Nagar 2nd Cross Street Vallal Ori Street?

The current guideline value for Bhagirathi Nagar 2nd Cross Street Vallal Ori Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. The register has no figure for this street in the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for this area?

The land classification for Bhagirathi Nagar 2nd Cross Street Vallal Ori Street is Residential Class I Type - I. This classification is important for determining the appropriate uses for the land.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Bhagirathi Nagar 2nd Cross Street Vallal Ori Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,69,500.