Guideline Value for Bhatri Nagar 2nd Street

Bhatri Nagar 2nd Street guideline value

The current guideline value of Bhatri Nagar 2nd Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Bhatri Nagar 2nd Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 20%. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it to Rs 1,800 per sq.ft. The most recent revision in 2024 has further raised the guideline value to Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Bhatri Nagar 2nd Street. Overall, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

In Selavoyal village, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. Bhatri Nagar 2nd Street's 2024 figure is below this median.

• Bhatri Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Bhatri Nagar 3rd Street: Rs 1,900 per sq.ft (2024)
• Binny Nagar / Binni Employees Colony: Rs 1,900 per sq.ft (2024)
• Boopathy Salai: Rs 1,900 per sq.ft (2024)
• Burma Nagar: Rs 1,900 per sq.ft (2024)
• Balu Naicken Thottam: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bhatri Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total cost for these fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Bhatri Nagar 2nd Street?

The Sub Registrar Office that covers Bhatri Nagar 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Selavoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is assessed alongside the sale price. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price, ensuring that the registration process is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Bhatri Nagar 2nd Street?

The current guideline value of Bhatri Nagar 2nd Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, with notable increases and decreases in between.

What is the stamp duty for property in Bhatri Nagar 2nd Street?

The stamp duty for a property at the current guideline value is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Bhatri Nagar 2nd Street?

The Madhavaram Sub Registrar Office handles registrations for Bhatri Nagar 2nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the other streets with the same guideline value in Selavoyal?

Other streets in Selavoyal with the same guideline value of Rs 1,900 per sq.ft include Bhatri Nagar 1st Street, Bhatri Nagar 3rd Street, Binny Nagar / Binni Employees Colony, Boopathy Salai, Burma Nagar, and Balu Naicken Thottam.