Guideline Value for BAKTHVATCHALAM COLONY 29TH STREET

Bakthvatchalam Colony 29th Street guideline value

The current guideline value of Bakthvatchalam Colony 29th 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 29th Street has changed

The guideline value for Bakthvatchalam Colony 29th Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 477 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The 2012 revision saw a significant jump to Rs 2,500 per sq.ft, but this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the latest 2024 revision has set the guideline value at Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. The 2007 to 2012 period saw a remarkable increase of 400%, and from 2003 to 2007, there was a modest rise of 5%. Overall, from 2003 to 2024, the guideline value has increased by 466%. It is important to note that there is no figure for this street in the 2002 revision.

Guideline values in Perambur

In Perambur village, 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 2024 guideline value of Bakthvatchalam Colony 29th Street.

• Bakthvatchalam Colony 28th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 2nd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 27th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 30th Street: Rs 2,200 per sq.ft (2024)
• Bakthvatchalam Colony 26th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 31st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 29th 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 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 29th Street?

The Sub Registrar Office that covers Bakthvatchalam Colony 29th 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

When buying or selling property in Perambur, the guideline value is used as a reference point for calculating stamp duty and registration fees. This ensures that the transaction is recorded accurately and fairly in the official records.

The guideline value helps to establish a baseline for property transactions, which can influence the overall cost of buying or selling property. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 29th Street?

The current guideline value of Bakthvatchalam Colony 29th 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, with various revisions in between, including a notable increase of 400% from 2007 to 2012.

What is the land classification of Bakthvatchalam Colony 29th Street?

The land classification for Bakthvatchalam Colony 29th Street is Residential Class III Type - II.

Where can I find the registration office for Bakthvatchalam Colony 29th Street?

The registration office for Bakthvatchalam Colony 29th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for property in Bakthvatchalam Colony 29th Street?

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