Guideline Value for BAKTHVATCHALAM COLONY 28TH STREET

Bakthvatchalam Colony 28th Street guideline value

The current guideline value of Bakthvatchalam Colony 28th 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 28th Street has changed

Over the years, the guideline value of Bakthvatchalam Colony 28th Street has seen several revisions. The earliest available figure is from 2003, which was Rs 477 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a 5% rise. By 2012, the value had jumped significantly to Rs 2,500 per sq.ft, reflecting a 400% increase. However, in 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, followed by the current figure of Rs 2,700 per sq.ft in 2024, representing an 8% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2003 revision to the 2024 revision, the guideline value has risen by 466%. Notably, there is no figure available for the year 2002 in the register 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 is Rs 2,700 per sq.ft, which is equal to the guideline value of Bakthvatchalam Colony 28th Street.

• Bakthvatchalam Colony 27th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 29th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 26th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 2nd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 25th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 30th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 28th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees 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 detailed calculations.

Which Sub Registrar Office covers Bakthvatchalam Colony 28th Street?

The Bakthvatchalam Colony 28th Street falls under the jurisdiction of 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 is a crucial factor during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 28th Street?

The current guideline value of Bakthvatchalam Colony 28th 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 these years.

What is the land classification for Bakthvatchalam Colony 28th Street?

Bakthvatchalam Colony 28th Street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 27,00,000, the stamp duty is Rs 1,89,000 and the registration fee is Rs 54,000, totaling Rs 2,43,000.

Which office handles the registration for Bakthvatchalam Colony 28th Street?

The Purasaivakkam Sub Registrar Office handles registrations for Bakthvatchalam Colony 28th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.