Guideline Value

Corporate

Guideline Value for BAKYALAKSHMI NAGAR

₹3100/sq.ft.

The guideline value for Bakyalakshmi Nagar in Ramapuram village (Chennai South Joint Ii SRO, Chennai zone) is Rs 3100 per sq.ft, effective 1 July 2024. It was Rs 2800 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Ramapuram

Village

Chennai South Joint II

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3100 /sq.ft.
From 1-4-2023 ₹2800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1876 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2800 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹518 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹419 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bakyalakshmi Nagar

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Bakyalakshmi Nagar guideline value

The current guideline value of Bakyalakshmi Nagar is Rs 3,100 per sq.ft, effective from 1 July 2024. This area is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bakyalakshmi Nagar has changed

The guideline value for Bakyalakshmi Nagar has undergone several revisions over the years. In 2002, the value was Rs 419 per sq.ft, which increased to Rs 518 per sq.ft in 2003. Following that, the value rose significantly to Rs 1,100 per sq.ft in 2007. The 2012 revision saw a drop to Rs 2,800 per sq.ft, while in 2017, it was revised to Rs 1,876 per sq.ft. The value then increased to Rs 2,800 per sq.ft in 2023, and currently stands at Rs 3,100 per sq.ft as of the 2024 revision.

Notable changes between these revisions include a rise of 24% from 2002 to 2003, a significant increase of 112% from 2003 to 2007, and a remarkable jump of 155% from 2007 to 2012. The value then decreased by 33% from 2012 to 2017. From 2017 to 2023, there was an increase of 49%, and from 2023 to 2024, the guideline value rose by 11%. Overall, from 2002 to 2024, the guideline value has increased by 640%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value of Bakyalakshmi Nagar is equal to this median.

Stamp duty and registration fee for property in Bakyalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value would be Rs 31,00,000. The stamp duty at 7% would amount to Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, making the total cost Rs 2,79,000. Please 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 details.

Which Sub Registrar Office covers Bakyalakshmi Nagar?

The Sub Registrar Office that covers Bakyalakshmi Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Bakyalakshmi Nagar?

The current guideline value of Bakyalakshmi Nagar is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 419 per sq.ft in 2002 to Rs 3,100 per sq.ft in 2024, reflecting an overall increase of 640% over this period.

What are the other streets in Ramapuram with their guideline values?

Other streets in Ramapuram include Balabigai Nagar All Cross Streets at Rs 3,100 per sq.ft, Bakthi Vedhanda First Avenue at Rs 2,750 per sq.ft, and several others, with values ranging from Rs 2,750 to Rs 3,100 per sq.ft.

What is the stamp duty rate for property in Bakyalakshmi Nagar?

The stamp duty rate for property in Bakyalakshmi Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Bakyalakshmi Nagar located?

The Sub Registrar Office for Bakyalakshmi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.