Guideline Value for BAKTHVATCHALAM COLONY 9TH STREET

Bakthvatchalam Colony 9th Street guideline value

The current guideline value of Bakthvatchalam Colony 9th 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 9th Street has changed

The guideline value for Bakthvatchalam Colony 9th Street has undergone several revisions over the years. The earliest recorded revision in the register is from 2003, where the guideline value was Rs 477 per sq.ft. This increased to Rs 500 per sq.ft in 2007, followed by a significant jump to Rs 2,500 per sq.ft in 2012. However, the value decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision saw it rise to Rs 2,500 per sq.ft, and the most recent 2024 revision set it at Rs 2,700 per sq.ft, marking an increase of 8% from the previous year.

Notably, the register does not contain a figure for the year 2002 for this street. The overall change from 2003 to 2024 is an increase of 466%. The fluctuations in the guideline value reflect various adjustments over the years, with the most significant increase occurring from 2007 to 2012 at 400%.

Guideline values in Perambur

In Perambur, there are 1114 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 is equal to the guideline value of Bakthvatchalam Colony 9th Street.

• Bakthvatchalam Colony 8th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony Mosque Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 7th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Karimedu Colony: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 6th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 5th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthvatchalam Colony 9th 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, leading to a total cost of 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthvatchalam Colony 9th Street?

The Sub Registrar Office that covers Bakthvatchalam Colony 9th 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 property transactions in Perambur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When a property is registered, the guideline value serves as a benchmark for calculating the fees, ensuring that they are based on a standardized value rather than the negotiated sale price. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Colony 9th Street?

The current guideline value of Bakthvatchalam Colony 9th 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 seen several revisions, with the most recent being an increase from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024. The overall increase from 2003 to 2024 is 466%.

What is the land classification of Bakthvatchalam Colony 9th Street?

Bakthvatchalam Colony 9th Street is classified as Residential Class III Type - II.

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

The Purasaivakkam Sub Registrar Office covers Bakthvatchalam Colony 9th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Bakthvatchalam Colony 9th Street?

Stamp duty is calculated based on the guideline value or the sale price, 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.