Guideline Value for Bisani Garden

Bisani Garden guideline value

The current guideline value of Bisani Garden is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Bisani Garden has changed

The guideline value for Bisani Garden has undergone several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which decreased to Rs 1,072 per sq.ft in the 2017 revision, reflecting a drop of 33%. However, the latest revision in 2024 has increased the guideline value to Rs 1,700 per sq.ft, marking a significant rise of 59% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has seen a modest increase of 6%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Bisani Garden is below this median.

• Bhuvaneswari Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar Link Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 9th Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 8th Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 7th Street: Rs 2,750 per sq.ft (2024)
• Bhuvaneswari Nagar 6th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bisani Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. 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 detailed calculations.

Which Sub Registrar Office covers Bisani Garden?

The Sub Registrar Office covering Bisani Garden is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Bisani Garden?

The current guideline value of Bisani Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, and then increased to Rs 1,700 per sq.ft in 2024. This reflects a 59% increase from the 2017 figure.

What are the stamp duty and registration fees for Bisani Garden?

For a 1,000 sq.ft plot, the total guideline value is Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations in Bisani Garden?

The Selaiyur Sub Registrar Office handles property registrations in Bisani Garden, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Bisani Garden?

Bisani Garden is classified as Residential Class I Type - II, indicating its suitability for residential development.