Guideline Value for Bhakyalakshmi Nagar 4th Street

Bhakyalakshmi Nagar 4th Street guideline value

The current guideline value of Bhakyalakshmi Nagar 4th 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 4th Street has changed

The guideline value for Bhakyalakshmi Nagar 4th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,876 per sq.ft. The 2023 revision increased the value to Rs 2,800 per sq.ft, before the current 2024 revision raised it to Rs 3,100 per sq.ft, marking an increase of 11%.

From the 2012 revision to the 2024 revision, the overall change is an increase of 11%. It is also notable that there are no figures available in the register for the years 2002, 2003, and 2007 for this street.

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 value among these streets is Rs 3,100 per sq.ft, which is the same as the current guideline value for Bhakyalakshmi Nagar 4th Street.

• Bhakyalakshmi Nagar 3rd Street: Rs 3,100 per sq.ft (2024)
• Bhakyalakshmi Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• Bhakyalakshmi Nagar 1st Street: Rs 3,100 per sq.ft (2024)
• Bethania Nagar Annex: Rs 2,750 per sq.ft (2024)
• Beema Naicker Thottam: Rs 3,100 per sq.ft (2024)
• Bharathi Nagar 1st Street: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Bhakyalakshmi Nagar 4th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, totaling 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhakyalakshmi Nagar 4th Street?

The Sub Registrar Office that covers Bhakyalakshmi Nagar 4th Street is 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. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is transparent and standardized across different properties in the region.

Frequently asked questions

What is the current guideline value of Bhakyalakshmi Nagar 4th Street?

The current guideline value of Bhakyalakshmi Nagar 4th 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 2023 to Rs 3,100 per sq.ft in 2024, an increase of 11%. The value has also increased from Rs 1,876 per sq.ft in 2017 to Rs 2,800 per sq.ft in 2023, a rise of 49%.

What is the land classification of Bhakyalakshmi Nagar 4th Street?

Bhakyalakshmi Nagar 4th Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees by using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers this area?

The Chennai South Joint II Sub Registrar Office covers Bhakyalakshmi Nagar 4th Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.