Guideline Value for BAKTHVATCHALAM COLONY 20TH STREET

Bakthvatchalam Colony 20th Street guideline value

The current guideline value of Bakthvatchalam Colony 20th 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 20th Street has changed

The guideline value for Bakthvatchalam Colony 20th Street has seen several revisions 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 jumped significantly to Rs 2,500 per sq.ft in 2012, but then decreased to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023 before reaching the current rate of Rs 2,700 per sq.ft in 2024. The register has no figure for this street in 2002.

Between the revisions, the changes are noteworthy. From 2003 to 2007, there was a 5% increase, followed by a remarkable 400% increase from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then saw a significant rise of 49% from 2017 to 2023, and finally, an 8% increase from 2023 to 2024. 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 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 the same as the current guideline value for Bakthvatchalam Colony 20th Street.

• Bakthvatchalam Colony 1st Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 21st Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 19th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 22nd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 18th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 23rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 20th 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, leading to a total of 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 accurate calculations.

Which Sub Registrar Office covers Bakthvatchalam Colony 20th Street?

The Bakthvatchalam Colony 20th Street falls under 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 in the registration process of properties in Perambur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 20th Street?

The current guideline value of Bakthvatchalam Colony 20th 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, marking an overall increase of 466% over the years.

What is the land classification for Bakthvatchalam Colony 20th Street?

Bakthvatchalam Colony 20th Street is classified as Residential Class III Type - II.

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.

Where is the Sub Registrar Office located for Bakthvatchalam Colony 20th Street?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.