Guideline Value for Bhagirathi Nagar

Bhagirathi Nagar guideline value

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

How the guideline value of Bhagirathi Nagar has changed

In the 2023 revision, the guideline value was set at Rs 3,500 per sq.ft. This marked a 10% increase to the current value of Rs 3,850 per sq.ft in the 2024 revision. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Bhagirathi Nagar's guideline value is above this median.

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

Stamp duty and registration fee for property in Bhagirathi Nagar

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. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bhagirathi Nagar?

The Sub Registrar Office covering Bhagirathi Nagar 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 details.

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 the basis for calculating the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, it is important to note that the guideline value is used to determine the official value of the property for registration purposes. This ensures that the transaction is recorded accurately and legally.

Frequently asked questions

What is the current guideline value of Bhagirathi Nagar?

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

How has the guideline value changed over the years?

The guideline value increased 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 figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 under the Velacheri SRO have a guideline value of Rs 3,850 per sq.ft in 2024, similar to Bhagirathi Nagar. These include Bhagirathi Nagar 2nd Cross Street Vallal Ori Street, Bhagirathi Nagar Athiyamani Street, and several others.

How is the stamp duty calculated for properties in Bhagirathi Nagar?

Stamp duty for properties in Bhagirathi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a total guideline value of Rs 38,50,000, resulting in a stamp duty of Rs 2,69,500.

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

The Sub Registrar Office for Bhagirathi Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information about your SRO through the provided link.