Guideline Value for BAKTHAVASALAM NAGAR (TSR NAGAR)

Bakthavasalam Nagar (Tsr Nagar) guideline value

The current guideline value of Bakthavasalam Nagar (Tsr Nagar) is Rs 3,700 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village under the Thiruvottiyur SRO, classified as Mixed Special Type - II.

How the guideline value of Bakthavasalam Nagar (Tsr Nagar) has changed

Over the years, the guideline value of Bakthavasalam Nagar (Tsr Nagar) has seen significant changes. The 2007 revision recorded a value of Rs 800 per sq.ft, which increased dramatically to Rs 3,400 per sq.ft in 2012, marking a rise of 325%. However, this value dropped to Rs 2,278 per sq.ft in 2017, a decrease of 33%. The guideline value then rose again to Rs 3,400 per sq.ft in 2023, followed by a further increase to Rs 3,700 per sq.ft in 2024, reflecting a 9% change from the previous year. The register has no figure for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 value, the guideline value has increased by 363%. This indicates a substantial change in the valuation of properties in this locality over the years.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Bakthavasalam Nagar (Tsr Nagar) above this median.

• Baharathiyar Street: Rs 3,300 per sq.ft (2024)
• Babu Jajeevan Nagar: Rs 3,300 per sq.ft (2024)
• Balakrishna Nagar: Rs 1,900 per sq.ft (2024)
• Basin Road: Rs 2,200 per sq.ft (2024)
• Ashok Leyland Colony: Rs 1,300 per sq.ft (2024)
• Ashok Avenue: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavasalam Nagar (Tsr Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value amounts to Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, leading to a total of Rs 3,33,000 for these fees. 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 Bakthavasalam Nagar (Tsr Nagar)?

The Sub Registrar Office that covers Bakthavasalam Nagar (Tsr Nagar) is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

During the registration process, if the sale price of the property is higher than the guideline value, the duty will be charged based on the sale price. Conversely, if the sale price is lower, the duty will be calculated on the guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bakthavasalam Nagar (Tsr Nagar)?

The current guideline value of Bakthavasalam Nagar (Tsr Nagar) is Rs 3,700 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 800 per sq.ft in 2007 to Rs 3,700 per sq.ft in 2024. This represents an overall increase of 363% over the years.

What is the median guideline value in Thiruvottiyur?

The median guideline value for the 177 streets in Thiruvottiyur is Rs 3,300 per sq.ft, with Bakthavasalam Nagar (Tsr Nagar) being above this median at Rs 3,700 per sq.ft.

What are the stamp duty and registration fees for property in Bakthavasalam Nagar?

For a property valued at Rs 37,00,000, the stamp duty would be Rs 2,59,000, and the registration fee would be Rs 74,000, totaling Rs 3,33,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Bakthavasalam Nagar?

The Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019, handles property registrations for Bakthavasalam Nagar (Tsr Nagar).