Guideline Value for BAKTHVATCHALAM COLONY 8TH STREET

Bakthvatchalam Colony 8th Street guideline value

The current guideline value of Bakthvatchalam Colony 8th 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 8th Street has changed

The guideline value for Bakthvatchalam Colony 8th 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 saw a significant rise to Rs 2,500 per sq.ft in 2012, before dropping to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent revision in 2024 has increased it to Rs 2,700 per sq.ft.

Between these revisions, there have been notable changes. From 2003 to 2007, the value increased by 5%. However, from 2007 to 2012, it rose dramatically by 400%. The value then decreased by 33% from 2012 to 2017. From 2017 to 2023, there was a significant increase of 49%. Finally, the increase from 2023 to 2024 is 8%. Overall, the guideline value has increased by 466% from 2003 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. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the 2024 figure for Bakthvatchalam Colony 8th Street.

• Bakthvatchalam Colony 7th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 9th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 6th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony Mosque Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 5th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Karimedu Colony: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 8th 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 to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bakthvatchalam Colony 8th Street?

The Bakthvatchalam Colony 8th Street is covered by 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 during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties to understand the fair valuation of the property. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 8th Street?

The current guideline value of Bakthvatchalam Colony 8th 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 several times, starting 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 8th Street?

The land classification for Bakthvatchalam Colony 8th Street is 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 property transactions?

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