Guideline Value for BAKTHVATCHALAM COLONY 2ND STREET

Bakthvatchalam Colony 2nd Street guideline value

The current guideline value of Bakthvatchalam Colony 2nd 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 it falls under the Residential Class III Type - II land classification.

How the guideline value of Bakthvatchalam Colony 2nd Street has changed

Over the years, the guideline value for Bakthvatchalam Colony 2nd Street has seen significant changes. In the 2003 revision, the value was Rs 477 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following this, the value surged to Rs 2,500 per sq.ft in 2012, a remarkable increase of 400%. However, it dropped to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision, reflecting an 8% increase from the previous year.

It is important to note that the register has no figure for this street for the year 2002. The overall change from 2003 to 2024 shows an increase of 466% in the guideline value per sq.ft.

Guideline values in Perambur

In Perambur village, there are a total of 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 guideline value for these streets is Rs 2,700 per sq.ft, which aligns with the current value of Bakthvatchalam Colony 2nd Street.

• Bakthvatchalam Colony 29th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 30th Street: Rs 2,200 per sq.ft (2024)
• Bakthvatchalam Colony 28th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 31st Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 27th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 32nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 2nd 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, bringing the total cost to Rs 2,43,000. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthvatchalam Colony 2nd Street?

The Sub Registrar Office that covers Bakthvatchalam Colony 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Perambur

The guideline value is a crucial factor in property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the authorities will assess the property based on the guideline value to ensure that the transaction is recorded accurately. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 2nd Street?

The current guideline value of Bakthvatchalam Colony 2nd 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, reflecting an overall increase of 466% over this period.

What is the land classification for Bakthvatchalam Colony 2nd Street?

Bakthvatchalam Colony 2nd Street falls under the Residential Class III Type - II land classification.

Where can I find the Sub Registrar Office for Bakthvatchalam Colony 2nd Street?

The Sub Registrar Office for Bakthvatchalam Colony 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Bakthvatchalam Colony 2nd Street?

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 at 7% would be Rs 1,89,000.