Guideline Value for BAKIYALAKSHMI NAGAR 1 TO 5 STREETS

Bakiyalakshmi Nagar 1 To 5 Streets guideline value

The current guideline value for Bakiyalakshmi Nagar 1 To 5 Streets is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in S. Kullathur village under the Pallavaram SRO, classified as Residential Class I Type - I.

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

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, which is equal to the current value of Bakiyalakshmi Nagar 1 To 5 Streets.

• Bharath Madha 2nd Street: Rs 2,750 per sq.ft (2024)
• Bhavani Street: Rs 2,530 per sq.ft (2024)
• Anna Nagar - S.Kulathur 1 To 7 Streets: Rs 2,750 per sq.ft (2024)
• Anna Highway Salai 1 To 10 Streets: Rs 2,750 per sq.ft (2024)
• Chinnapa Nagar: Rs 2,750 per sq.ft (2024)
• Chinnappa Nagar 1 And 2 Streets: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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

The Bakiyalakshmi Nagar 1 To 5 Streets fall under 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 S. Kullathur

The guideline value is a crucial factor when buying or selling property in S. Kullathur. It determines the minimum price at which a property can be registered and affects the stamp duty and registration fees payable during the transaction.

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 registration process is aligned with the official valuation of the property.

Frequently asked questions

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

The current guideline value for Bakiyalakshmi Nagar 1 To 5 Streets is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,500 per sq.ft from 2012 to 2023 and increased to Rs 2,750 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

Which Sub Registrar Office covers the Bakiyalakshmi Nagar area?

The Bakiyalakshmi Nagar area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the stamp duty for property in Bakiyalakshmi Nagar?

The stamp duty for property in Bakiyalakshmi Nagar is 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.

What is the land classification for Bakiyalakshmi Nagar?

Bakiyalakshmi Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.