Guideline Value for Sri Bhagawathi Nagar

Sri Bhagawathi Nagar guideline value

The current guideline value of Sri Bhagawathi Nagar, located in Perungavur village under the Redhills SRO, is Rs 275 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sri Bhagawathi Nagar has changed

The guideline value for Sri Bhagawathi Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 275 per sq.ft, which is an increase from Rs 250 per sq.ft in the 2023 revision. Prior to that, the value was Rs 167 per sq.ft in 2017, showing a significant increase of 50% from the previous figure.

Looking further back, the 2012 revision had a guideline value of Rs 250 per sq.ft, which was a decrease of 33% from Rs 200 per sq.ft in 2007. Overall, from 2007 to 2024, the guideline value has increased by 38%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungavur

In Perungavur, there are 79 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with the median being Rs 275 per sq.ft. The guideline value of Sri Bhagawathi Nagar aligns with this median.

• Sri Balaji Nagar: Rs 385 per sq.ft (2024)
• Sri Dhanalakshmi Nagar Phase I: Rs 220 per sq.ft (2024)
• Sri Avenue: Rs 220 per sq.ft (2024)
• Sri Ashtalakshmi Nagar: Rs 220 per sq.ft (2024)
• Sri Amman Nagar: Rs 220 per sq.ft (2024)
• Sri Iswariya Garden: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Bhagawathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value amounts to Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, while the registration fee at 2% would be Rs 5,500, bringing the total charges to Rs 24,750. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Bhagawathi Nagar?

Sri Bhagawathi Nagar falls under the jurisdiction of 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 Perungavur

The guideline value is a crucial factor in the registration process when buying or selling property in Perungavur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the state authorities.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that both the buyer and seller adhere to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Sri Bhagawathi Nagar?

The current guideline value of Sri Bhagawathi Nagar is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 275 per sq.ft in 2024, marking a total increase of 38% over the years.

Where can I find the registration office for Sri Bhagawathi Nagar?

The registration office for Sri Bhagawathi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total charges would be Rs 24,750.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential to use the higher amount between the guideline value and the sale price for these calculations.