Guideline Value for B.K. GARDEN

B.K. Garden guideline value

The current guideline value of B.K. Garden, located in Alamathi village under the Redhills SRO, is Rs 550 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of B.K. Garden has changed

Over the years, the guideline value of B.K. Garden has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. However, this figure increased significantly to Rs 500 per sq.ft in the 2023 revision, and further rose to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2012 figure to the 2024 figure reflects a modest increase of 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Alamathi

In Alamathi, there are 54 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft, with the median value being Rs 550 per sq.ft. B.K. Garden's 2024 guideline value aligns with this median.

• Bhuvaneswari Nagar: Rs 550 per sq.ft (2024)
• Bharathiar Street: Rs 990 per sq.ft (2024)
• Bhajanai Koil Street: Rs 990 per sq.ft (2024)
• Balasubramanian Nagar: Rs 770 per sq.ft (2024)
• Bakiyalakshmi Nagar: Rs 660 per sq.ft (2024)
• Edapalayam Road: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in B.K. Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers B.K. Garden?

The B.K. Garden area is covered by 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Alamathi. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on an officially recognized value of the property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of B.K. Garden?

The current guideline value of B.K. Garden 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 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of B.K. Garden?

B.K. Garden is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for B.K. Garden?

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

How are stamp duty and registration fees calculated in B.K. Garden?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 550 per sq.ft would incur a total fee of Rs 49,500.