Guideline Value for Bhagirathi Nagar Nakeeran Street

Bhagirathi Nagar Nakeeran Street guideline value

The current guideline value of Bhagirathi Nagar Nakeeran 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, classified as Residential Class I Type - I.

How the guideline value of Bhagirathi Nagar Nakeeran Street has changed

The guideline value for Bhagirathi Nagar Nakeeran Street has seen significant revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 3,850 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the value has risen by 64%.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO with the 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, placing Bhagirathi Nagar Nakeeran Street's 2024 value above this median.

• Bhagirathi Nagar Kalaivanar Street: Rs 3,850 per sq.ft (2024)
• Bhagirathi Nagar Padmavathy 1st Cross Street Vallal Kari Street: Rs 3,850 per sq.ft (2024)
• Bhagirathi Nagar Balaji Street: Rs 3,850 per sq.ft (2024)
• Bhagirathi Nagar Padmavathy 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Bhagirathi Nagar Athiyamani Street: Rs 3,850 per sq.ft (2024)
• Bhagirathi Nagar Padmavathy 3rd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagirathi Nagar Nakeeran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to 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 use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhagirathi Nagar Nakeeran Street?

The Sub Registrar Office covering Bhagirathi Nagar Nakeeran 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 when it comes to property registration in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Bhagirathi Nagar Nakeeran Street?

The current guideline value of Bhagirathi Nagar Nakeeran 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 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

What is the classification of Bhagirathi Nagar Nakeeran Street?

Bhagirathi Nagar Nakeeran Street is classified as Residential Class I Type - I, according to the guidelines set by the Velacheri SRO.

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

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 3,46,500 in fees.