Guideline Value for Sri Bhakthavatchalam nagar

Sri Bhakthavatchalam nagar guideline value

The current guideline value of Sri Bhakthavatchalam nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village under the Poonamallee SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Bhakthavatchalam nagar has changed

The guideline value for Sri Bhakthavatchalam nagar has seen several revisions over the years. The 2007 revision recorded a guideline value of Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, this value dropped by 33% to Rs 1,340 per sq.ft in 2017. The subsequent 2023 revision brought the value back up to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which matches the current guideline value of Sri Bhakthavatchalam nagar.

• Sri Bhakthavatchalam Avenue & Nagar: Rs 2,200 per sq.ft (2024)
• Sri Nagar: Rs 2,200 per sq.ft (2024)
• Sri Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Sri Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Sri Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Sri Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Bhakthavatchalam nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Sri Bhakthavatchalam nagar?

The Sub Registrar Office that covers Sri Bhakthavatchalam nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Poonthamallee. It is the benchmark used to determine the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. 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 Bhakthavatchalam nagar?

The current guideline value of Sri Bhakthavatchalam nagar is Rs 2,200 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 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What is the land classification for Sri Bhakthavatchalam nagar?

Sri Bhakthavatchalam nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sri Bhakthavatchalam nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Sri Bhakthavatchalam nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.