Guideline Value for BAKTHAVACHALAM COLONY 2ND STREET

Bakthavachalam Colony 2nd Street guideline value

The current guideline value of Bakthavachalam Colony 2nd Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bakthavachalam Colony 2nd Street has changed

The guideline value for Bakthavachalam Colony 2nd Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,400 per sq.ft. This increased significantly to Rs 5,300 per sq.ft in 2012, followed by a decrease to Rs 3,551 per sq.ft in 2017. The value then rose to Rs 5,300 per sq.ft in 2023, and currently stands at Rs 5,800 per sq.ft as of the 2024 revision. Notably, the register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, the value increased by 279% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then saw a substantial increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 9% increase. Overall, from 2007 to 2024, the guideline value has increased by 314%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, which is equal to the current guideline value of Bakthavachalam Colony 2nd Street.

• Bakthavachalam Colony 1st Street: Rs 5,800 per sq.ft (2024)
• Bajanai Koil Street (Puliyurpuram): Rs 5,800 per sq.ft (2024)
• Bajanai Koil Street (Choolaimedu): Rs 5,800 per sq.ft (2024)
• Bajanai Koil New Street (Choolaimedu): Rs 5,800 per sq.ft (2024)
• Bajanai Koil I St Cross Street: Rs 5,800 per sq.ft (2024)
• Bajanai Koil East Street: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value would be Rs 58,00,000. The stamp duty at 7% would amount to Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total charges to Rs 5,22,000. It's important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bakthavachalam Colony 2nd Street?

The Bakthavachalam Colony 2nd Street is covered by the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bakthavachalam Colony 2nd Street?

The current guideline value of Bakthavachalam Colony 2nd Street is Rs 5,800 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 1,400 per sq.ft in 2007 to Rs 5,800 per sq.ft in 2024, reflecting an overall increase of 314% over this period.

What is the land classification for Bakthavachalam Colony 2nd Street?

Bakthavachalam Colony 2nd Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees applicable?

For a property valued at Rs 58,00,000, the stamp duty is Rs 4,06,000 and the registration fee is Rs 1,16,000, totaling Rs 5,22,000.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.