Guideline Value for Bhatri Nagar 3rd Street

Bhatri Nagar 3rd Street guideline value

The current guideline value of Bhatri Nagar 3rd 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 falls under the Residential Class III Type - I land classification.

How the guideline value of Bhatri Nagar 3rd Street has changed

The guideline value for Bhatri Nagar 3rd Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft. This value decreased to Rs 1,206 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,800 per sq.ft. The latest revision in 2024 saw another increase of 6%, bringing the current guideline value to Rs 1,900 per sq.ft.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

In Selavoyal, 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 3rd Street's 2024 guideline value is below this median.

• Bhatri Nagar 2nd Street: Rs 1,900 per sq.ft (2024)
• Bhatri Nagar 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total charges Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhatri Nagar 3rd Street?

The Sub Registrar Office covering Bhatri Nagar 3rd Street 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 Selavoyal

The guideline value is a crucial reference point during the registration of property transactions in Selavoyal. It helps determine the applicable stamp duty and registration fees, ensuring that both buyers and sellers are aware of the financial implications of their property transactions.

When buying or selling property, the guideline value serves as a benchmark for the minimum price at which a property can be registered. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Bhatri Nagar 3rd Street?

The current guideline value of Bhatri Nagar 3rd 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 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and is now Rs 1,900 per sq.ft in 2024.

What is the land classification for Bhatri Nagar 3rd Street?

Bhatri Nagar 3rd Street falls under the Residential Class III Type - I land classification.

Which Sub Registrar Office should I visit for property transactions in Bhatri Nagar 3rd Street?

The Madhavaram Sub Registrar Office is responsible for property transactions in Bhatri Nagar 3rd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Bhatri Nagar 3rd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 1,33,000.