Guideline Value for BAKTHVATCHALAM COLONY 22ND STREET

Bakthvatchalam Colony 22nd Street guideline value

The current guideline value of Bakthvatchalam Colony 22nd 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 22nd Street has changed

Over the years, the guideline value for Bakthvatchalam Colony 22nd Street has undergone several revisions. The earliest recorded value in 2003 was Rs 477 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following this, the value surged to Rs 2,500 per sq.ft in 2012, marking a significant increase of 400%. However, in 2017, it decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,700 per sq.ft in 2024, which represents an 8% increase from the previous year.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from 2003 to 2024, there has been a substantial increase of 466%. It is important to note that the register does not have a 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. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Bakthvatchalam Colony 22nd Street.

• Bakthvatchalam Colony 21st Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 23rd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 20th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 24th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 1st Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 25th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 22nd 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 cost for these fees to 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 more information.

Which Sub Registrar Office covers Bakthvatchalam Colony 22nd Street?

The Bakthvatchalam Colony 22nd Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For further details, you can find your SRO.

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

The guideline value is a critical factor in the registration process for property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 22nd Street?

The current guideline value of Bakthvatchalam Colony 22nd 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, representing an overall increase of 466% over the years.

What are the other streets in Perambur with the same guideline value?

Other streets in Perambur that share the same guideline value of Rs 2,700 per sq.ft for 2024 include Bakthvatchalam Colony 21st Street, 23rd Street, 20th Street, 24th Street, 1st Street, and 25th Street.

Where can I find the Sub Registrar Office for Bakthvatchalam Colony 22nd Street?

The Sub Registrar Office covering Bakthvatchalam Colony 22nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Bakthvatchalam Colony 22nd Street?

Stamp duty for properties in Bakthvatchalam Colony 22nd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.