Guideline Value for P.W.D. Bangalamedu 1st Street

P.W.D. Bangalamedu 1st Street guideline value

The current guideline value of P.W.D. Bangalamedu 1st Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Nallur village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of P.W.D. Bangalamedu 1st Street has changed

The guideline value for P.W.D. Bangalamedu 1st Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The most recent revisions show an increase to Rs 500 per sq.ft in 2023, followed by a further increase to Rs 550 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 83%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Nallur

In Nallur, there are 39 streets under the Redhills SRO, with guideline values ranging from Rs 440 to Rs 1,650 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the current guideline value of P.W.D. Bangalamedu 1st Street.

• P.W.D. Bangalamedu 2nd Street: Rs 550 per sq.ft (2024)
• P.W.D. Bangalamedu 3rd Street: Rs 550 per sq.ft (2024)
• P.W.D. Bangalamedu 4th Street: Rs 550 per sq.ft (2024)
• Perumal Koil Street: Rs 770 per sq.ft (2024)
• Padavattamman Koil Street: Rs 770 per sq.ft (2024)
• Padavattamman Koil 1st Cross Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in P.W.D. Bangalamedu 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,50,000, the stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. 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 information.

Which Sub Registrar Office covers P.W.D. Bangalamedu 1st Street?

The Sub Registrar Office that covers P.W.D. Bangalamedu 1st Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nallur. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value.

When a property is registered, the guideline value helps to determine the official value of the property for taxation purposes. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of P.W.D. Bangalamedu 1st Street?

The current guideline value of P.W.D. Bangalamedu 1st Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, marking an overall increase of 83% over the years.

What are the stamp duty and registration fees for properties here?

For a 1,000 sq.ft property valued at Rs 5,50,000, the total stamp duty and registration fees would amount to Rs 49,500.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and historical revisions. It serves as a standard for calculating stamp duty and registration fees.