Guideline Value for Blessing Nagar

Blessing Nagar guideline value

The current guideline value of Blessing Nagar, located in Amarampedu village under the Sriperumpudur SRO, is Rs 126 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Blessing Nagar has changed

Since the 2007 revision, the guideline value for Blessing Nagar has seen significant changes. In 2007, the guideline value was Rs 25 per sq.ft, which increased dramatically to Rs 125 per sq.ft in 2012, marking a 400% rise. However, it decreased slightly to Rs 84 per sq.ft in 2017, a reduction of 33%. The value remained stable at Rs 126 per sq.ft in both the 2023 and 2024 revisions, indicating no change over this period.

For the years 2002 and 2003, the register has no figure for this street. Overall, from 2007 to 2024, the guideline value has increased by 404%, reflecting a substantial rise in the area's valuation over the years.

Guideline values in Amarampedu

In Amarampedu village, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value of Blessing Nagar is below this median.

• Bajanai Koil Street: Rs 350 per sq.ft (2024)
• Ellaiyamman Koil Street: Rs 126 per sq.ft (2024)
• Anna Street: Rs 126 per sq.ft (2024)
• Annapoorani Enclave: Rs 350 per sq.ft (2024)
• Fab City: Rs 150 per sq.ft (2024)
• Ambedhkar Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Blessing Nagar

For a 1,000 sq.ft plot at the current rate of Rs 126 per sq.ft, the guideline value amounts to Rs 1,26,000. The stamp duty at 7% would be Rs 8,820, and the registration fee at 2% would be Rs 2,520, making the total Rs 11,340. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Blessing Nagar?

The Sub Registrar Office that covers Blessing Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Amarampedu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Blessing Nagar?

The current guideline value of Blessing Nagar is Rs 126 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 25 per sq.ft in 2007 to Rs 126 per sq.ft in 2024, representing an overall increase of 404% over this period.

What is the land classification of Blessing Nagar?

Blessing Nagar falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for property in Blessing Nagar?

For a property valued at Rs 1,26,000, the stamp duty would be Rs 8,820, and the registration fee would be Rs 2,520, totaling Rs 11,340.

Which office handles registrations for Blessing Nagar?

The Sriperumpudur Sub Registrar Office handles registrations for Blessing Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.