Guideline Value for BAKTHVATCHALAM COLONY 15TH STREET

Bakthvatchalam Colony 15th Street guideline value

The current guideline value of Bakthvatchalam Colony 15th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class III Type - II land classification.

How the guideline value of Bakthvatchalam Colony 15th Street has changed

The guideline value for Bakthvatchalam Colony 15th Street has seen several revisions over the years. In 2003, the guideline value was Rs 477 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following this, the value surged significantly to Rs 2,500 per sq.ft in 2012, but then dropped to Rs 1,675 per sq.ft in 2017. The value increased again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision. Notably, there is no figure recorded for this street in the 2002 revision.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 8%. The 2007 to 2012 period saw a remarkable increase of 400%, whereas the 2012 to 2017 period experienced a decline of 33%. Overall, from 2003 to 2024, the guideline value has increased by 466%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Bakthvatchalam Colony 15th Street.

• Bakthvatchalam Colony 14th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 16th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 13th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 17th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 12th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 18th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 15th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bakthvatchalam Colony 15th Street?

The Bakthvatchalam Colony 15th Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted at fair values as per government regulations.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures that the government receives appropriate revenue from property transactions, maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 15th Street?

The current guideline value of Bakthvatchalam Colony 15th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 477 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 466% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office is responsible for Bakthvatchalam Colony 15th Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, covers Bakthvatchalam Colony 15th Street.

What does the guideline value indicate?

The guideline value indicates the minimum value at which a property can be registered in a specific area, ensuring that transactions are conducted at fair values as determined by the government.