Guideline Value for BAKTHAVACHALAM SALAI (WARRAN ROAD)

Bakthavachalam Salai (Warran Road) guideline value

The current guideline value of Bakthavachalam Salai (Warran Road) is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bakthavachalam Salai (Warran Road) has changed

Over the years, the guideline value of Bakthavachalam Salai (Warran Road) has seen significant changes. In the 2012 revision, the value was Rs 12,000 per sq.ft, which then decreased to Rs 8,040 per sq.ft in 2017. Following this, the value increased to Rs 12,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 13,200 per sq.ft. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The most recent change from 2023 to 2024 shows an increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mylapore

Mylapore has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Bakthavachalam Salai (Warran Road) above this median at Rs 13,200 per sq.ft.

• Balaiah Avenue: Rs 13,200 per sq.ft (2024)
• Bagirathi Ammal Street: Rs 11,500 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 11,500 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 11,500 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 11,500 per sq.ft (2024)
• Balaji Nagar 4th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Salai (Warran Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, leading to a total of Rs 11,88,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Bakthavachalam Salai (Warran Road)?

The Sub Registrar Office that covers Bakthavachalam Salai (Warran Road) is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mylapore, as it helps determine the stamp duty and registration fees applicable to the transaction. This value is fixed by the government and is used to assess the fair value of properties in the area.

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

Frequently asked questions

What is the current guideline value of Bakthavachalam Salai (Warran Road)?

The current guideline value of Bakthavachalam Salai (Warran Road) is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2012 to Rs 8,040 per sq.ft in 2017, then increased to Rs 12,000 per sq.ft in 2023, and finally to Rs 13,200 per sq.ft in 2024.

What is the land classification for Bakthavachalam Salai (Warran Road)?

The land classification for Bakthavachalam Salai (Warran Road) is Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 1,32,00,000, the total fees would amount to Rs 11,88,000.

Where is the Sub Registrar Office for Bakthavachalam Salai (Warran Road)?

The Sub Registrar Office for Bakthavachalam Salai (Warran Road) is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.