Guideline Value for BAKKIYALAKSHMI NAGAR

Bakkiyalakshmi Nagar guideline value

The current guideline value of Bakkiyalakshmi Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This locality is situated in Mathuranthagam village, under the Madurandakam SRO, and is classified as Residential Special Type - III.

How the guideline value of Bakkiyalakshmi Nagar has changed

Over the years, the guideline value of Bakkiyalakshmi Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Bakkiyalakshmi Nagar is below this median.

• Barani Nagar: Rs 1,110 per sq.ft (2024)
• Arulaleeswaran Pillayar Koil Street: Rs 1,110 per sq.ft (2024)
• Arulaleeswaran Koil, Vannan Kullakkarai Street, Othiyan Kulakkarai Street: Rs 555 per sq.ft (2024)
• Arulaleeswaran Koil Street: Rs 1,110 per sq.ft (2024)
• Arulaleesvarankoil Ponniamman Koil Street: Rs 1,110 per sq.ft (2024)
• Arulaleeswaran Koil Malattu Kuttai Street, Bungalow Colony Mettu Street: Rs 555 per sq.ft (2024)

Stamp duty and registration fee for property in Bakkiyalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. 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 precise calculations.

Which Sub Registrar Office covers Bakkiyalakshmi Nagar?

The Sub Registrar Office that covers Bakkiyalakshmi Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mathuranthagam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these fees are calculated fairly based on the property's value.

When a property is sold, the guideline value helps in establishing a legal framework for the transaction, ensuring that both parties are aware of the costs involved. It is essential for buyers and sellers to be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bakkiyalakshmi Nagar?

The current guideline value of Bakkiyalakshmi Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Bakkiyalakshmi Nagar?

Bakkiyalakshmi Nagar is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for Bakkiyalakshmi Nagar?

The Sub Registrar Office for Bakkiyalakshmi Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Bakkiyalakshmi Nagar?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft results in a total guideline value of Rs 6,60,000.