Guideline Value for BAKTHVATCHALAM COLONY 33RD STREET

Bakthvatchalam Colony 33rd Street guideline value

The current guideline value for Bakthvatchalam Colony 33rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Bakthvatchalam Colony 33rd Street has changed

The guideline value for Bakthvatchalam Colony 33rd Street has experienced several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 400% rise. However, by 2017, the value decreased to Rs 1,675 per sq.ft, representing a decline of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, and most recently, it has reached Rs 2,700 per sq.ft in 2024, an increase of 8% from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 440%.

Guideline values in Perambur

In Perambur, 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 value for these streets is Rs 2,700 per sq.ft, which matches the guideline value for Bakthvatchalam Colony 33rd Street.

• Bakthvatchalam Colony 32nd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 34th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 31st Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 35th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 30th Street: Rs 2,200 per sq.ft (2024)
• Bakthvatchalam Colony 36th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 33rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the 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 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 our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Bakthvatchalam Colony 33rd Street?

The Sub Registrar Office that covers Bakthvatchalam Colony 33rd 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 when buying or selling property in Perambur, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 33rd Street?

The current guideline value of Bakthvatchalam Colony 33rd 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 500 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, representing an overall increase of 440% over the years.

What is the land classification for Bakthvatchalam Colony 33rd Street?

The land classification for Bakthvatchalam Colony 33rd Street is Residential Class III Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Bakthvatchalam Colony 33rd 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 this area?

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