Guideline Value for BAKTHVATCHALAM COLONY 6TH STREET

Bakthvatchalam Colony 6th Street guideline value

The current guideline value of Bakthvatchalam Colony 6th 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 6th Street has changed

The guideline value for Bakthvatchalam Colony 6th Street has seen several revisions over the years. In 2003, the value was Rs 477 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The value then experienced a significant jump to Rs 2,500 per sq.ft in 2012, followed by a decrease to Rs 1,675 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023 and a further rise to Rs 2,700 per sq.ft in 2024. It is important to note that there is no figure available for the year 2002 in the register for this street.

From 2003 to 2024, the overall increase in the guideline value is 466%. The changes between the revisions are as follows: from 2003 to 2007, the value increased by 5%; from 2007 to 2012, it surged by 400%; however, it decreased by 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was an 8% increase from 2023 to 2024.

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, with a median value of Rs 2,700 per sq.ft. The guideline value for Bakthvatchalam Colony 6th Street is equal to this median.

• Bakthvatchalam Colony 5th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 7th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 4th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 8th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 3rd Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 9th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 6th 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthvatchalam Colony 6th Street?

The Bakthvatchalam Colony 6th Street is covered by 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 crucial factor in the registration process for property transactions in Perambur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is checked against the sale price. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price. This ensures that the transaction is fairly assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 6th Street?

The current guideline value of Bakthvatchalam Colony 6th 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, increasing from Rs 477 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 466% over this period.

What is the land classification for Bakthvatchalam Colony 6th Street?

Bakthvatchalam Colony 6th Street falls under the Residential Class III Type - II land classification.

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 handles the registration for Bakthvatchalam Colony 6th Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles the registration for Bakthvatchalam Colony 6th Street.