Guideline Value for BAKTHVATCHALAM COLONY 18TH STREET

Bakthvatchalam Colony 18th Street guideline value

The current guideline value of Bakthvatchalam Colony 18th 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 is classified as Residential Class III Type - II.

How the guideline value of Bakthvatchalam Colony 18th Street has changed

Over the years, the guideline value for Bakthvatchalam Colony 18th Street has seen various revisions. The earliest recorded figure is from 2003, at Rs 477 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The value then rose significantly to Rs 2,500 per sq.ft in 2012, before dropping to Rs 1,675 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 was particularly significant at 400%. The overall change from 2003 to 2024 reflects an increase of 466%. It is important to note that there is no figure available for the year 2002 in the register 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. The median value is Rs 2,700 per sq.ft, which is equal to the guideline value of Bakthvatchalam Colony 18th Street.

• Bakthvatchalam Colony 17th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 19th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 16th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 1st Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 15th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 20th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 18th 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 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 further calculations.

Which Sub Registrar Office covers Bakthvatchalam Colony 18th Street?

The Sub Registrar Office that covers Bakthvatchalam Colony 18th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role 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 transparency and fairness in the process.

When buying or selling property, the guideline value is used to calculate various fees, including stamp duty and registration charges. It is essential for both buyers and sellers to be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 18th Street?

The current guideline value of Bakthvatchalam Colony 18th 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 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 covers this street?

The Purasaivakkam Sub Registrar Office covers Bakthvatchalam Colony 18th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Bakthvatchalam Colony 18th Street?

Bakthvatchalam Colony 18th Street is classified as Residential Class III Type - II.