Guideline Value for Bhagirathi Nagar Vallal Athiyaman Street

Bhagirathi Nagar Vallal Athiyaman Street guideline value

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

How the guideline value of Bhagirathi Nagar Vallal Athiyaman Street has changed

The guideline value for Bhagirathi Nagar Vallal Athiyaman Street has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 2,345 per sq.ft. This value increased to Rs 3,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the revisions in 2002, 2003, 2007, and 2012 for this street.

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 for the area is Rs 2,750 per sq.ft, placing Bhagirathi Nagar Vallal Athiyaman Street's 2024 figure above this median.

• Bhagirathi Nagar Thirumalai Street: Rs 3,850 per sq.ft (2024)
• Bhagirathi Nagar Vallal Kari Street: Rs 3,850 per sq.ft (2024)
• Bhagirathi Nagar Thiagarajar Street: Rs 3,850 per sq.ft (2024)
• Bhagirathi Nagar Vallal Kumanan Street: Rs 3,850 per sq.ft (2024)
• Bhagirathi Nagar Sundar Rajan Salai: Rs 3,850 per sq.ft (2024)
• Bhagirathi Nagar Vallal Ori Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Bhagirathi Nagar Vallal Athiyaman Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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, resulting in a total of Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhagirathi Nagar Vallal Athiyaman Street?

The Sub Registrar Office that covers Bhagirathi Nagar Vallal Athiyaman 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 during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the correct amount based on the property's value.

Frequently asked questions

What is the current guideline value of Bhagirathi Nagar Vallal Athiyaman Street?

The current guideline value of Bhagirathi Nagar Vallal Athiyaman Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office do I need to visit for property registration?

The Velacheri Sub Registrar Office is responsible for property registration in Bhagirathi Nagar Vallal Athiyaman Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value determined for property transactions?

The guideline value is determined based on various factors and is used to calculate stamp duty and registration fees during property transactions. It is compared with the sale price, and the higher value is used for calculating applicable duties.