Guideline Value for Bhakthavatchalam Street, Nagelkeni

Bhakthavatchalam Street, Nagelkeni guideline value

The current guideline value of Bhakthavatchalam Street, Nagelkeni is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Bhakthavatchalam Street, Nagelkeni has changed

The guideline value for Bhakthavatchalam Street has seen several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that have a guideline value for 2024, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value is Rs 2,090 per sq.ft, placing Bhakthavatchalam Street's current value below this median.

• Bhakathvachalam Street: Rs 1,980 per sq.ft (2024)
• Bhanth Street / Ganapathy Nagar: Rs 1,980 per sq.ft (2024)
• Benjiaman Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Bharathidasan 1st Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Bharathidasan 2nd Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Bharathidasan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Bhakthavatchalam Street, Nagelkeni

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600. Together, the total cost for these fees would be Rs 1,78,200. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhakthavatchalam Street, Nagelkeni?

The Sub Registrar Office that covers Bhakthavatchalam Street, Nagelkeni is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs involved in the transfer of property ownership. This ensures that both buyers and sellers are aware of their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Bhakthavatchalam Street, Nagelkeni?

The current guideline value of Bhakthavatchalam Street, Nagelkeni is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, which is an overall increase of 64% during this period.

What are the stamp duty and registration fees for property in Bhakthavatchalam Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office registers properties in Bhakthavatchalam Street?

The Pammal Sub Registrar Office is responsible for registering properties in Bhakthavatchalam Street, Nagelkeni.

How is the guideline value determined?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values in the area.