Guideline Value for BAKTHVATCHALAM COLONY 24TH STREET

Bakthvatchalam Colony 24th Street guideline value

The current guideline value of Bakthvatchalam Colony 24th 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 24th Street has changed

The guideline value for Bakthvatchalam Colony 24th Street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 477 per sq.ft. In 2007, the value increased significantly to Rs 500 per sq.ft, followed by a substantial jump to Rs 2,500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,675 per sq.ft. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 2,700 per sq.ft.

Between these revisions, there have been notable changes. The value increased by 8% from 2023 to 2024, and there was a 49% increase from 2017 to 2023. The 2012 to 2017 period saw a decrease of 33%, while from 2007 to 2012, there was a remarkable increase of 400%. The 2003 to 2007 period had a modest increase of 5%. 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, with the 2024 guideline values 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 2024 guideline value of Bakthvatchalam Colony 24th Street.

• Bakthvatchalam Colony 23rd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 25th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 22nd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 26th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 21st Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 27th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 24th 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 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 the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bakthvatchalam Colony 24th Street?

The Sub Registrar Office that covers Bakthvatchalam Colony 24th 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 in the registration process of property transactions in Perambur. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered, as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly impact the total expenses involved in the purchase.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 24th Street?

The current guideline value of Bakthvatchalam Colony 24th 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, reflecting an overall increase of 466% over this period.

What is the registration fee for property in Bakthvatchalam Colony 24th Street?

The registration fee is 2% of the guideline value. For a property valued at Rs 27,00,000, the registration fee would be Rs 54,000.

Where is the Sub Registrar Office for Bakthvatchalam Colony 24th Street?

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?

The stamp duty is charged at 7% on the higher of the guideline value or the sale price of the property. This ensures that the government receives the appropriate revenue from property transactions.