Guideline Value for BACKIAMMAL NAGAR 1 TO 5 STREETS

Backiammal Nagar 1 To 5 Streets guideline value

The current guideline value for Backiammal Nagar 1 To 5 Streets is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kilkattalai village and falls under the Pallavaram SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Backiammal Nagar 1 To 5 Streets has changed

Over the years, the guideline value for Backiammal Nagar 1 To 5 Streets has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has set it at Rs 2,200 per sq.ft. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The 2023 to 2024 revision reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kilkattalai

Kilkattalai village has 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, positioning Backiammal Nagar 1 To 5 Streets below this median.

• Ayyappan Koil Street: Rs 2,750 per sq.ft (2024)
• Ayyappa Nagar: Rs 2,750 per sq.ft (2024)
• Bakkiyammal Nagar: Rs 2,200 per sq.ft (2024)
• Balaji Nagar: Rs 1,980 per sq.ft (2024)
• Arunachalam Nagar Main Road: Rs 4,125 per sq.ft (2024)
• Arunachalam Nagar 9th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Backiammal Nagar 1 To 5 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Backiammal Nagar 1 To 5 Streets?

The Sub Registrar Office that covers Backiammal Nagar 1 To 5 Streets 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 Kilkattalai

The guideline value is a critical factor in the registration process of property transactions in Kilkattalai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

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

Frequently asked questions

What is the current guideline value for Backiammal Nagar 1 To 5 Streets?

The current guideline value for Backiammal Nagar 1 To 5 Streets 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Backiammal Nagar 1 To 5 Streets?

The land classification for Backiammal Nagar 1 To 5 Streets is Residential Class I Type - III.

Where can I find the Sub Registrar Office for Backiammal Nagar 1 To 5 Streets?

The Sub Registrar Office for Backiammal Nagar 1 To 5 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Kilkattalai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value or sale price.