Guideline Value for Bhattachariar Street Kaliamman Koil Street

Bhattachariar Street Kaliamman Koil Street guideline value

The current guideline value of Bhattachariar Street Kaliamman Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bhattachariar Street Kaliamman Koil Street has changed

The guideline value for Bhattachariar Street Kaliamman Koil Street has seen several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 355%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The 2023 revision set the value at Rs 5,000 per sq.ft, and the most recent 2024 revision increased it to Rs 5,500 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 400%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a guideline value for 2024, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which means Bhattachariar Street Kaliamman Koil Street's 2024 figure of Rs 5,500 per sq.ft is above the median.

• BHASKAR COLONY - Bharathidasan Street: Rs 5,500 per sq.ft (2024)
• BHASKAR COLONY 3rd Street: Rs 5,500 per sq.ft (2024)
• BHASKAR COLONY 2nd Street: Rs 5,500 per sq.ft (2024)
• BHASKAR COLONY 1st Street: Rs 5,500 per sq.ft (2024)
• Bharathi Street (Venkatesa Nagar): Rs 4,400 per sq.ft (2024)
• Boopathi Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bhattachariar Street Kaliamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhattachariar Street Kaliamman Koil Street?

The Sub Registrar Office that covers Bhattachariar Street Kaliamman Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Virugambakkam as it determines the minimum price at which a property can be registered. When purchasing or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations during the registration process. This value serves as a benchmark for property transactions and helps in maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Bhattachariar Street Kaliamman Koil Street?

The current guideline value of Bhattachariar Street Kaliamman Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 400% over the years.

What is the land classification for Bhattachariar Street Kaliamman Koil Street?

The land classification for Bhattachariar Street Kaliamman Koil Street is Residential Class II Type - I.

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

The Sub Registrar Office that covers Bhattachariar Street Kaliamman Koil Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.