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Guideline Value

Corporate

Guideline Value for Bhakthavatchalam Nagar (Ward-01)

₹2200/sq.ft.

The guideline value for Bhakthavatchalam Nagar (ward-01) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 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

Madhavaram

Village

Madhavaram

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
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.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[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 Bhakthavatchalam Nagar (ward-01)

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Bhakthavatchalam Nagar (Ward-01) guideline value

The current guideline value of Bhakthavatchalam Nagar (Ward-01) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Bhakthavatchalam Nagar (Ward-01) has changed

Over the years, the guideline value of Bhakthavatchalam Nagar has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and finally, it rose to Rs 2,200 per sq.ft in the 2024 revision. The register has no figures for this street in 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, it saw a 10% increase. Overall, from 2012 to 2024, the value has increased by 10%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Bhakthavatchalam Nagar is above this median.

Stamp duty and registration fee for property in Bhakthavatchalam Nagar (Ward-01)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhakthavatchalam Nagar (Ward-01)?

The Sub Registrar Office that covers Bhakthavatchalam Nagar (Ward-01) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Bhakthavatchalam Nagar?

The current guideline value of Bhakthavatchalam Nagar (Ward-01) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024. The register has no figures for this street in 2002, 2003, and 2007.

What is the land classification for Bhakthavatchalam Nagar?

The land classification for Bhakthavatchalam Nagar (Ward-01) is Residential Class I Type - I. This classification indicates the type of development permitted in the area.

What are the stamp duty rates for properties in Bhakthavatchalam Nagar?

The stamp duty for properties in Bhakthavatchalam Nagar is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the same amount.

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

The Sub Registrar Office for Bhakthavatchalam Nagar (Ward-01) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information by visiting the appropriate link.