Guideline Value for Sri Badhrakaliamman Nagar

Sri Badhrakaliamman Nagar guideline value

The current guideline value of Sri Badhrakaliamman Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Sri Badhrakaliamman Nagar has changed

The guideline value has undergone several revisions over the years. The earliest recorded value in 2003 was Rs 110 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007. Following this, the value rose to Rs 3,000 per sq.ft in 2012, but saw a decrease to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, and finally to the current rate of Rs 3,300 per sq.ft in 2024. Notably, the register has no figure for this street in 2002.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The significant jump from 2007 to 2012 was 400%, while the increase from 2003 to 2007 was 445%. Overall, from 2003 to 2024, the guideline value has increased by 2900%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Sri Badhrakaliamman Nagar. Below are the guideline values for other streets in Zaminpallavaram:

• Sri Bharath Nagar: Rs 2,750 per sq.ft (2024)
• Sridevi Amman Street: Rs 2,160 per sq.ft (2024)
• Sridevi Nagar: Rs 3,300 per sq.ft (2024)
• Sri Elumalaiyan Nagar: Rs 2,750 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 3,520 per sq.ft (2024)
• South Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Badhrakaliamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that 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 details.

Which Sub Registrar Office covers Sri Badhrakaliamman Nagar?

The Sub Registrar Office that covers Sri Badhrakaliamman Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Badhrakaliamman Nagar?

The current guideline value of Sri Badhrakaliamman Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 110 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and significant increases in subsequent years.

What is the land classification of Sri Badhrakaliamman Nagar?

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

Where can I find the Sub Registrar Office for Sri Badhrakaliamman Nagar?

The Sub Registrar Office covering Sri Badhrakaliamman Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Badhrakaliamman Nagar?

Stamp duty for properties in Sri Badhrakaliamman Nagar is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.