Guideline Value for BAKTHVATCHALAM COLONY 30TH STREET

Bakthvatchalam Colony 30th Street guideline value

The current guideline value of Bakthvatchalam Colony 30th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO and falls under the Residential Class IV Type - I land classification.

How the guideline value of Bakthvatchalam Colony 30th Street has changed

The guideline value for Bakthvatchalam Colony 30th Street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 477 per sq.ft. This value increased to Rs 500 per sq.ft in 2007, marking a 5% rise. The next revision in 2012 saw the value jump significantly to Rs 2,000 per sq.ft, reflecting a 300% increase. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024, which represents a 10% increase from the previous year. The register has no figure for this street in 2002.

From 2003 to 2024, the overall change in the guideline value is an increase of 361%. The value has seen significant fluctuations, with the most notable increase occurring between 2007 and 2012. The transition from 2017 to 2023 also shows a substantial increase of 49%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values for 2024 ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, indicating that Bakthvatchalam Colony 30th Street's 2024 figure is below that median.

• Bakthvatchalam Colony 2nd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 31st Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 29th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 32nd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 28th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 33rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 30th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthvatchalam Colony 30th Street?

The Sub Registrar Office that covers Bakthvatchalam Colony 30th 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 serves as a benchmark for determining the minimum value of the property for registration purposes. It is essential for both buyers and sellers to be aware of the guideline value as it impacts the calculation of stamp duty and registration fees.

The guideline value is used by the registration authorities to ensure that the transaction is recorded at a fair value, preventing undervaluation of properties. This helps maintain transparency in property transactions and ensures that the state receives appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 30th Street?

The current guideline value of Bakthvatchalam Colony 30th Street is Rs 2,200 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 2,200 per sq.ft in 2024, showing an overall increase of 361% over the years.

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur under the Purasaivakkam SRO is Rs 2,700 per sq.ft for the year 2024.

What are the registration fees for a property in Bakthvatchalam Colony 30th Street?

The registration fees for a property in Bakthvatchalam Colony 30th Street include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Purasaivakkam Sub Registrar Office located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, or by using the online find your SRO tool.