Guideline Value for BAKTHI VEDHANDA FIRST AVENUE

Bakthi Vedhanda First Avenue guideline value

The current guideline value of Bakthi Vedhanda First Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Bakthi Vedhanda First Avenue has changed

The guideline value for Bakthi Vedhanda First Avenue has undergone several revisions over the years. In 2002, the guideline value was Rs 419 per sq.ft, which increased to Rs 518 per sq.ft in 2003. Following that, the value saw significant growth, reaching Rs 1,100 per sq.ft in 2007. The value then increased to Rs 2,500 per sq.ft in 2012, before dropping to Rs 1,675 per sq.ft in 2017. The guideline value experienced a substantial rise to Rs 2,500 per sq.ft in 2023, and most recently, it has been revised to Rs 2,750 per sq.ft in 2024.

The changes between these revisions reflect a notable increase in the guideline value. From 2002 to 2024, the overall increase is 556%. The most significant jump occurred between 2012 and 2017, where the value decreased by 33%, while the highest increase was from 2017 to 2023, which saw a rise of 49%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, placing Bakthi Vedhanda First Avenue's 2024 figure below the median.

• Bakthi Vedhanda 3rd Avenue: Rs 2,750 per sq.ft (2024)
• Bakthi Vedhanda 2nd Avenue: Rs 2,750 per sq.ft (2024)
• Bakyalakshmi Nagar: Rs 3,100 per sq.ft (2024)
• Balabigai Nagar All Cross Streets: Rs 3,100 per sq.ft (2024)
• Balaji Avenue: Rs 3,100 per sq.ft (2024)
• Bajanai Koil Street Lane: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthi Vedhanda First Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. 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 Bakthi Vedhanda First Avenue?

The Sub Registrar Office covering Bakthi Vedhanda First Avenue is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during transactions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bakthi Vedhanda First Avenue?

The current guideline value of Bakthi Vedhanda First Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent revision in 2024 increasing it to Rs 2,750 per sq.ft from Rs 2,500 per sq.ft in 2023. The overall increase from 2002 to 2024 is 556%.

What is the land classification for Bakthi Vedhanda First Avenue?

The land classification for Bakthi Vedhanda First Avenue is Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the registration office for Bakthi Vedhanda First Avenue?

The registration office for Bakthi Vedhanda First Avenue is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Ramapuram?

Stamp duty for properties in Ramapuram is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.