Guideline Value for BAKTHVATCHALAM COLONY 23RD STREET

Bakthvatchalam Colony 23rd Street guideline value

The current guideline value of Bakthvatchalam Colony 23rd 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 23rd Street has changed

The guideline value for Bakthvatchalam Colony 23rd Street has undergone several revisions over the years. The earliest recorded figure is from 2003 at Rs 477 per sq.ft, which increased to Rs 500 per sq.ft in 2007. A significant jump occurred in 2012, where the value rose to Rs 2,500 per sq.ft, but then saw a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

In total, the guideline value has increased by 466% from 2003 to 2024. The register does not have figures for the year 2002 for this street, indicating that the first recorded value was in 2003.

Guideline values in Perambur

In Perambur, there are 1114 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 for Bakthvatchalam Colony 23rd Street aligns with this median.

• Bakthvatchalam Colony 22nd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 24th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 21st Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 25th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 20th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 26th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 23rd 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bakthvatchalam Colony 23rd Street?

The Bakthvatchalam Colony 23rd Street falls under the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, 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 during property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the legal value of the property. This helps maintain transparency in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 23rd Street?

The current guideline value of Bakthvatchalam Colony 23rd 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 seen several changes: it started at Rs 477 per sq.ft in 2003, increased to Rs 500 in 2007, then to Rs 2,500 in 2012, decreased to Rs 1,675 in 2017, and finally rose to Rs 2,700 in 2024.

What is the land classification of Bakthvatchalam Colony 23rd Street?

Bakthvatchalam Colony 23rd Street is classified as Residential Class III Type - II.

Where can I find the Purasaivakkam Sub Registrar Office?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.