Guideline Value for BAKTHVATCHALAM COLONY 34TH STREET

Bakthvatchalam Colony 34th Street guideline value

The current guideline value of Bakthvatchalam Colony 34th 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 falls under the Residential Class III Type - II land classification.

How the guideline value of Bakthvatchalam Colony 34th Street has changed

The guideline value for Bakthvatchalam Colony 34th Street has seen several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 400% rise. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,700 per sq.ft in 2024, reflecting an 8% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 440%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is the same as the current value for Bakthvatchalam Colony 34th Street.

• Bakthvatchalam Colony 31st Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 32nd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 33rd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 35th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 36th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 37th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 34th 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 for these 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bakthvatchalam Colony 34th Street?

The Sub Registrar Office that covers Bakthvatchalam Colony 34th 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

The guideline value is a critical factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair rate.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the fees are based on the official valuation rather than the sale price, which may be lower.

Frequently asked questions

What is the current guideline value for Bakthvatchalam Colony 34th Street?

The current guideline value for Bakthvatchalam Colony 34th 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 is the land classification for Bakthvatchalam Colony 34th Street?

Bakthvatchalam Colony 34th Street is classified as Residential Class III Type - II.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Bakthvatchalam Colony 34th Street?

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