Guideline Value for BAKTHVATCHALAM COLONY 3RD STREET

Bakthvatchalam Colony 3rd Street guideline value

The current guideline value of Bakthvatchalam Colony 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Bakthvatchalam Colony 3rd Street has changed

Over the years, the guideline value of Bakthvatchalam Colony 3rd Street has seen several revisions. The earliest recorded figure is from 2003, which is Rs 477 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a 5% rise. The value then surged to Rs 2,500 per sq.ft in 2012, representing a significant increase of 400%. However, it saw a decline to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, followed by the current figure of Rs 2,700 per sq.ft in 2024, reflecting an 8% increase.

Between 2017 and 2023, the guideline value saw a substantial increase of 49%. Overall, from 2003 to 2024, the guideline value has increased by 466%. It is important to note that the register has no figure for this street for the year 2002.

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 value is Rs 2,700 per sq.ft, which is equal to the 2024 figure for Bakthvatchalam Colony 3rd Street.

• Bakthvatchalam Colony 37th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 4th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 36th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 5th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 35th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together 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.

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

Which Sub Registrar Office covers Bakthvatchalam Colony 3rd Street?

The Sub Registrar Office that covers Bakthvatchalam Colony 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Perambur. It is the minimum value set by the government for property transactions, ensuring that properties are not sold below a certain price. When a property is registered, the guideline value is used to calculate the stamp duty and registration fees.

In the case of property sales, if the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the true market conditions.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 3rd Street?

The current guideline value of Bakthvatchalam Colony 3rd 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 477 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 466% over the years.

What is the land classification of Bakthvatchalam Colony 3rd Street?

Bakthvatchalam Colony 3rd 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 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,43,000.