Guideline Value for B.K. MAISTRY STREET

B.K. Maistry Street guideline value

The current guideline value of B.K. Maistry Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of B.K. Maistry Street has changed

Over the years, the guideline value of B.K. Maistry Street has seen significant changes. The 2002 revision recorded a guideline value of Rs 515 per sq.ft. This increased to Rs 645 per sq.ft in 2003, marking a 25% rise. The value then rose by 24% to reach Rs 800 per sq.ft in 2007. In 2012, the guideline value was recorded at Rs 4,000 per sq.ft, which was a substantial increase of 400% from the previous revision. However, it decreased by 33% to Rs 2,680 per sq.ft in 2017.

In 2023, the guideline value increased to Rs 4,000 per sq.ft, and then saw a further increase of 10% to reach the current value of Rs 4,400 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 754%. There are no figures available for revisions in years not mentioned in this register.

Guideline values in Saidapet

Saidapet village features a range of guideline values across its 106 streets under the Chennai South Joint II SRO. The 2024 figures range from Rs 3,300 to Rs 13,200 per sq.ft, with the median value being Rs 4,400 per sq.ft, which is equal to the guideline value of B.K. Maistry Street.

• Brahmin Street: Rs 5,500 per sq.ft (2024)
• Bharathiyar Street (Hospital Road): Rs 4,400 per sq.ft (2024)
• Bharathiyar Street (Abith Colony): Rs 4,400 per sq.ft (2024)
• Central Exercise Colony: Rs 4,950 per sq.ft (2024)
• Chetty Street: Rs 4,400 per sq.ft (2024)
• Chetty Thottam Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in B.K. Maistry Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers B.K. Maistry Street?

The Sub Registrar Office that covers B.K. Maistry Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Saidapet. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of B.K. Maistry Street?

The current guideline value of B.K. Maistry Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 515 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 754% over this period.

What are the stamp duty and registration fees for property in B.K. Maistry Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office is responsible for B.K. Maistry Street?

The Chennai South Joint II Sub Registrar Office is responsible for B.K. Maistry Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification of B.K. Maistry Street?

B.K. Maistry Street is classified as Residential Class II Type - II, indicating its designation for residential use within the area.