Guideline Value for BAKTHVATCHALAM KARIMEDU COLONY

Bakthvatchalam Karimedu Colony guideline value

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

How the guideline value of Bakthvatchalam Karimedu Colony has changed

The guideline value for Bakthvatchalam Karimedu Colony has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 500 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 400%. However, it then decreased 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 a further increase to the current rate of Rs 2,700 per sq.ft in 2024, which is an 8% rise from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 440%. The changes reflect the fluctuations in property values in the area, with notable increases in recent years. The 2024 figure of Rs 2,700 per sq.ft is equal to the median guideline value for streets in Perambur under the Purasaivakkam SRO.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that have 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 Karimedu Colony aligns with this median. Below are the guideline values for other streets in Perambur:

• Bakthvatchalam Colony Mosque Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 9th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 8th Street: Rs 2,700 per sq.ft (2024)
• Bakthvatchalam Colony 7th Street: 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 Karimedu Colony

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 to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthvatchalam Karimedu Colony?

The Bakthvatchalam Karimedu Colony falls under the jurisdiction of 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 when buying or selling property in Perambur. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure they meet the legal requirements during registration.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bakthvatchalam Karimedu Colony?

The current guideline value of Bakthvatchalam Karimedu Colony 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 500 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 440% over this period.

What is the land classification of Bakthvatchalam Karimedu Colony?

Bakthvatchalam Karimedu Colony is classified as Residential Class III Type - II.

Which Sub Registrar Office covers the area?

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

How is stamp duty calculated for properties in this area?

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