Guideline Value for BAKTHVATCHALAM COLONY 27TH STREET

Bakthvatchalam Colony 27th Street guideline value

The current guideline value of Bakthvatchalam Colony 27th 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 27th Street has changed

The guideline value for Bakthvatchalam Colony 27th Street has seen several revisions over the years. The earliest recorded revision is from 2003, with a guideline value of Rs 477 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a rise of 5%. The value then surged to Rs 2,500 per sq.ft in 2012, reflecting a significant increase of 400%. However, in 2017, the guideline value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 sets the guideline value at Rs 2,700 per sq.ft, which is an 8% increase from the previous year.

Overall, from the 2003 revision to the current 2024 revision, the guideline value has increased by 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, the guideline values vary across 1114 streets under the Purasaivakkam SRO, with the 2024 figures ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which matches the current value of Bakthvatchalam Colony 27th Street.

• Bakthvatchalam Colony 26th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 28th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 25th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 29th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 24th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 27th 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 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 detailed calculations.

Which Sub Registrar Office covers Bakthvatchalam Colony 27th Street?

The Sub Registrar Office that covers Bakthvatchalam Colony 27th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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 stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Bakthvatchalam Colony 27th Street?

The current guideline value for Bakthvatchalam Colony 27th 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 the years.

What is the land classification for Bakthvatchalam Colony 27th Street?

Bakthvatchalam Colony 27th Street is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Bakthvatchalam Colony 27th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000.