Guideline Value for BAKTHAVATCHULU NAGAR

Bakthavatchulu Nagar guideline value

The current guideline value of Bakthavatchulu Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This locality is situated in Matthur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Bakthavatchulu Nagar has changed

The guideline value for Bakthavatchulu Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 68 per sq.ft, which increased to Rs 80 per sq.ft in 2003. Following this, the value rose to Rs 200 per sq.ft in 2007, marking a substantial increase of 150%. By 2012, the value reached Rs 1,000 per sq.ft, reflecting a 400% increase from the previous revision. However, it then decreased to Rs 670 per sq.ft in 2017, a decline of 33%. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 1,100 per sq.ft, an increase of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1518%. There are no figures available for Bakthavatchulu Nagar in the revisions for the years not listed.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the current guideline value of Bakthavatchulu Nagar.

• Balamurugan Nagar: Rs 1,100 per sq.ft (2024)
• Balasubramaniya Nagar: Rs 1,100 per sq.ft (2024)
• Arulanandham Nagar/ Ext: Rs 1,100 per sq.ft (2024)
• Appollo Armstrong Nagar: Rs 1,100 per sq.ft (2024)
• Bharathi Nagar: Rs 1,100 per sq.ft (2024)
• Bhuvaneshwari Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavatchulu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 precise calculations.

Which Sub Registrar Office covers Bakthavatchulu Nagar?

The Sub Registrar Office that covers Bakthavatchulu Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Matthur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bakthavatchulu Nagar?

The current guideline value of Bakthavatchulu Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 68 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, representing an overall increase of 1518% over this period.

What is the land classification of Bakthavatchulu Nagar?

Bakthavatchulu Nagar is classified as Residential Special Type - III, which indicates its designation for residential purposes within the locality.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 77,000.