Guideline Value for BAKUNDEEN GROUP GARDEN

Bakundeen Group Garden guideline value

The current guideline value of Bakundeen Group Garden is Rs 1,000 per sq.ft. It is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class V Type - II.

How the guideline value of Bakundeen Group Garden has changed

The guideline value for Bakundeen Group Garden has seen several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which increased to Rs 502 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, showing a remarkable increase of 99% from 2017 to 2023. The 2024 revision reflects no change from the previous year.

In summary, the guideline value has fluctuated over the years, with the most recent changes being a 33% increase overall from the 2012 revision to the 2024 revision. Notably, the revisions for the years 2002, 2003, and 2007 do not have figures recorded for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, indicating that Bakundeen Group Garden's current value is below this median.

• Babu Manoharan Garden: Rs 1,100 per sq.ft (2024)
• Ayub Garden: Rs 1,000 per sq.ft (2024)
• Bennetgoal Men-Co: Rs 3,900 per sq.ft (2024)
• Bharathi Nagar: Rs 3,900 per sq.ft (2024)
• Arasan Garden: Rs 1,000 per sq.ft (2024)
• Aqua Sphero: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bakundeen Group Garden

For a property measuring 1,000 sq.ft at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total fees Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bakundeen Group Garden?

The Bakundeen Group Garden falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Chemmancheri. It is used to determine the stamp duty and registration fees that must be paid during the registration of property transactions. Buyers should be aware that the guideline value is the baseline for these calculations, ensuring that the appropriate fees are collected by the government.

When buying or selling property, it is essential to understand that the guideline value may differ from the actual sale price. However, the stamp duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Bakundeen Group Garden?

The current guideline value of Bakundeen Group Garden is Rs 1,000 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with significant changes occurring between 2017 and 2023, where it increased by 99%. The overall change from 2012 to 2024 is an increase of 33%.

What is the land classification for Bakundeen Group Garden?

Bakundeen Group Garden is classified as Residential Class V Type - II, indicating its designation for residential use within the area.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Bakundeen Group Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at 7%, in addition to the registration fee of Rs 20,000 at 2%.