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Guideline Value

Corporate

Guideline Value for Bhakyalakshmi Nagar 1st Street

₹3100/sq.ft.

The guideline value for Bhakyalakshmi Nagar 1st Street in Ramapuram village (Chennai South Joint Ii SRO, Chennai zone) is Rs 3100 per sq.ft, effective 1 July 2024. It was Rs 2800 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Ramapuram

Village

Chennai South Joint II

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3100 /sq.ft.
From 1-4-2023 ₹2800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1876 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2800 /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)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[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 Bhakyalakshmi Nagar 1st Street

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Bhakyalakshmi Nagar 1st Street guideline value

The current guideline value of Bhakyalakshmi Nagar 1st Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bhakyalakshmi Nagar 1st Street has changed

The guideline value for Bhakyalakshmi Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was then reduced to Rs 1,876 per sq.ft in the 2017 revision. Following that, the 2023 revision increased the value to Rs 2,800 per sq.ft, and the most recent 2024 revision has set it at Rs 3,100 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a significant increase of 49% from 2017 to 2023. The transition from 2023 to 2024 reflects an increase of 11%. Overall, from 2012 to 2024, the guideline value has risen by 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, which is the same as the current value for Bhakyalakshmi Nagar 1st Street.

Stamp duty and registration fee for property in Bhakyalakshmi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty is charged at 7%, which results in Rs 2,17,000, and the registration fee is charged at 2%, amounting to Rs 62,000. Together, the total cost for stamp duty and registration fee is Rs 2,79,000. It is important to 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 Bhakyalakshmi Nagar 1st Street?

Bhakyalakshmi Nagar 1st Street falls under the jurisdiction of the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Ramapuram. It is used as a benchmark to determine the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value can impact the overall costs associated with property transactions, including stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Bhakyalakshmi Nagar 1st Street?

The current guideline value of Bhakyalakshmi Nagar 1st Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then back to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification for Bhakyalakshmi Nagar 1st Street?

Bhakyalakshmi Nagar 1st Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office covering Bhakyalakshmi Nagar 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Bhakyalakshmi Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000, and the registration fee would be Rs 62,000, totaling Rs 2,79,000.