Guideline Value for BAKTHVATCHALAM COLONY 16TH STREET

Bakthvatchalam Colony 16th Street guideline value

The current guideline value of Bakthvatchalam Colony 16th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Bakthvatchalam Colony 16th Street has changed

The guideline value for Bakthvatchalam Colony 16th Street has seen significant changes over the years. In 2003, the value was Rs 477 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following that, the value surged to Rs 2,500 per sq.ft in 2012, but then dropped to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023 before reaching the current rate of Rs 2,700 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 was 8%. The highest increase recorded was between 2007 and 2012, which saw a remarkable rise of 400%. Overall, from 2003 to 2024, the guideline value has increased by 466%. The register has no figure for the year 2002 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with the median being Rs 2,700 per sq.ft. The guideline value of Bakthvatchalam Colony 16th Street matches this median.

• Bakthvatchalam Colony 15th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 17th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 14th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 18th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 13th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 19th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 16th 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, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthvatchalam Colony 16th Street?

The Sub Registrar Office that covers Bakthvatchalam Colony 16th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, which ensures that the government receives due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 16th Street?

The current guideline value of Bakthvatchalam Colony 16th 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 significantly from Rs 477 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 466% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 2,43,000 based on the current guideline value.

Which Sub Registrar Office is responsible for this street?

The Purasaivakkam Sub Registrar Office is responsible for Bakthvatchalam Colony 16th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Bakthvatchalam Colony 16th Street?

Bakthvatchalam Colony 16th Street is classified as Residential Class III Type - II, which indicates the type of development permissible in this area.