Guideline Value for BAKTHVATCHALAM COLONY 32ND STREET

Bakthvatchalam Colony 32nd Street guideline value

The current guideline value of Bakthvatchalam Colony 32nd 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 32nd Street has changed

The guideline value for Bakthvatchalam Colony 32nd Street has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure then decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, which was later revised to Rs 2,700 per sq.ft in 2024, marking an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 440%. Notably, there are no figures available for the years 2002 and 2003 for this street, as the register has no figure for these years.

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 guideline value for these streets is Rs 2,700 per sq.ft, which aligns with the current value of Bakthvatchalam Colony 32nd Street.

• Bakthvatchalam Colony 31st Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 33rd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 30th Street: Rs 2,200 per sq.ft (2024)
• Bakthvatchalam Colony 34th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 2nd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 35th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 32nd 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 fees 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 also use the stamp duty and registration fee calculator for more details on your specific property.

Which Sub Registrar Office covers Bakthvatchalam Colony 32nd Street?

The Sub Registrar Office that covers Bakthvatchalam Colony 32nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the value of the property for the purpose of calculating stamp duty and registration fees.

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 duties. This ensures that the registration reflects a fair value based on the established guidelines.

Frequently asked questions

What is the current guideline value for Bakthvatchalam Colony 32nd Street?

The current guideline value for Bakthvatchalam Colony 32nd 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 500 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 440% over the years.

What are the stamp duty and registration fees for properties in this area?

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

Which office is responsible for property registration in Bakthvatchalam Colony 32nd Street?

The Purasaivakkam Sub Registrar Office is responsible for property registration in Bakthvatchalam Colony 32nd Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Bakthvatchalam Colony 32nd Street?

The land classification for Bakthvatchalam Colony 32nd Street is Residential Class III Type - II.