Guideline Value for BAKTHAVATSALAM STREET

Bakthavatsalam Street guideline value

The current guideline value of Bakthavatsalam Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of Bakthavatsalam Street has changed

The guideline value for Bakthavatsalam Street has seen several revisions over the years. In 2002, the value was Rs 1,064 per sq.ft, which increased to Rs 1,183 per sq.ft in 2003, marking an 11% rise. The value then rose significantly to Rs 2,000 per sq.ft in 2007, reflecting a 69% increase. By 2012, it was recorded at Rs 7,000 per sq.ft, which was a substantial 250% increase from the previous revision. However, from 2012 to 2017, the value decreased by 33% to Rs 4,690 per sq.ft. The guideline value then increased to Rs 7,000 per sq.ft in 2023, and the latest revision in 2024 brought it to Rs 7,700 per sq.ft, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 624%. There are no figures available for any revisions prior to 2002 or after 2024 for this street.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Bakthavatsalam Street's 2024 figure above that median.

• Babu Rajendra Prasad Road/Babu Rajendra Prasad 1st Street/Babu Rajendra Prasad Street: Rs 12,100 per sq.ft (2024)
• Babu Rajendra Prasad 2 Street: Rs 8,800 per sq.ft (2024)
• Balaji Singh Street: Rs 7,700 per sq.ft (2024)
• Balakrishna Street: Rs 7,700 per sq.ft (2024)
• Barathidasan East Street Appavoo Nagar: Rs 7,700 per sq.ft (2024)
• Barathidasan Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavatsalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, resulting in a total of Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bakthavatsalam Street?

The Sub Registrar Office that covers Bakthavatsalam Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Mambalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bakthavatsalam Street?

The current guideline value of Bakthavatsalam Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,064 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 624%.

What is the land classification of Bakthavatsalam Street?

Bakthavatsalam Street is classified as Residential Class I Type - II.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Bakthavatsalam Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at the current guideline value, the stamp duty would be 7% of the guideline value.