Guideline Value for BAKKINGAM CANAL ROAD

Bakkingam Canal Road guideline value

The current guideline value of Bakkingam Canal Road is Rs 1,700 per sq.ft, effective from 1 July 2024. This road is located in Sholinganallur - 1 village, under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Bakkingam Canal Road has changed

Over the years, the guideline value of Bakkingam Canal Road has seen several revisions. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision. The most recent revision in 2024 has further raised the value to Rs 1,700 per sq.ft, marking a 13% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 69%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The 2017 to 2023 increase of 49% reflects significant changes in the guideline value during this period.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are a total of 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which means that Bakkingam Canal Road's 2024 figure is below this median.

• Bajanai Koil Street: Rs 2,200 per sq.ft (2024)
• Balachandra Builder Park: Rs 2,200 per sq.ft (2024)
• Babu Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar: Rs 2,200 per sq.ft (2024)
• Balakrishnan Street: Rs 2,200 per sq.ft (2024)
• Balamurugan Thottam: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakkingam Canal Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total cost for these fees would be Rs 1,53,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Bakkingam Canal Road?

The Bakkingam Canal Road is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is registered, the guideline value is considered to determine the applicable fees, which helps maintain transparency in property transactions. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Bakkingam Canal Road?

The current guideline value of Bakkingam Canal Road is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, reflecting a total increase of 69% over this period.

What are the guideline values for other streets in Sholinganallur - 1?

Other streets in Sholinganallur - 1 have guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft.

What is the registration fee for property in Bakkingam Canal Road?

The registration fee is calculated based on the guideline value, which for Bakkingam Canal Road is Rs 1,700 per sq.ft. For a 1,000 sq.ft plot, the registration fee would be Rs 34,000.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.