Guideline Value for Sri AathiBakavathi Nagar

Sri AathiBakavathi Nagar guideline value

The current guideline value of Sri AathiBakavathi Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Vallam village and falls under the Chengleput Joint I SRO. The land classification for this locality is Residential Class II Type - I.

How the guideline value of Sri AathiBakavathi Nagar has changed

Over the years, the guideline value for Sri AathiBakavathi Nagar has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 800 per sq.ft. The 2017 revision recorded a lower value of Rs 536 per sq.ft. Notably, the revisions for the years 2002, 2003, and 2007 have no figures for this street in the register.

From 2017 to 2023, there was a significant increase of 49%. However, between 2012 and 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has remained consistent at Rs 800 per sq.ft.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO with a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, placing Sri AathiBakavathi Nagar's 2024 figure below that median.

• Sree Nagar: Rs 850 per sq.ft (2024)
• Sri Balaji Nagar: Rs 850 per sq.ft (2024)
• Shanthi Nagar: Rs 1,000 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,000 per sq.ft (2024)
• Selvam Nagar: Rs 800 per sq.ft (2024)
• School Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri AathiBakavathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sri AathiBakavathi Nagar?

The Sub Registrar Office that covers Sri AathiBakavathi Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Vallam. It serves as the basis for calculating stamp duty and registration fees, ensuring that both the buyer and seller are aware of the official value assigned to the property.

When buying or selling property, it is essential to refer to the guideline value to understand the financial implications of the transaction. This value is used to determine the amount payable for stamp duty, which is a mandatory fee in property transactions.

Frequently asked questions

What is the current guideline value of Sri AathiBakavathi Nagar?

The current guideline value of Sri AathiBakavathi Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent changes showing no increase from 2023 to 2024 and a significant increase of 49% from 2017 to 2023.

What is the land classification for Sri AathiBakavathi Nagar?

Sri AathiBakavathi Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which office handles property registrations for Sri AathiBakavathi Nagar?

The Chengleput Joint I Sub Registrar Office handles property registrations for Sri AathiBakavathi Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.