Guideline Value for BARACKA ROAD 1ST STREET LANE

Baracka Road 1st Street Lane guideline value

The current guideline value for Baracka Road 1st Street Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Baracka Road 1st Street Lane has changed

The guideline value for Baracka Road 1st Street Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value rose to Rs 5,000 per sq.ft in 2023, and currently, it stands at Rs 5,500 per sq.ft as of the 2024 revision. The changes between these revisions include a 178% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which is equal to the 2024 figure for Baracka Road 1st Street Lane.

• Baracka Road 1st Street: Rs 5,500 per sq.ft (2024)
• Baracka Road 2nd Street: Rs 5,500 per sq.ft (2024)
• Baracka Road: Rs 7,700 per sq.ft (2024)
• Baracka Road 2nd Street Lane: Rs 5,500 per sq.ft (2024)
• Barnaby Avenue: Rs 13,200 per sq.ft (2024)
• Barnaby Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Baracka Road 1st Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Baracka Road 1st Street Lane?

The Sub Registrar Office that covers Baracka Road 1st Street Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions within Purasaivakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the associated costs.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Baracka Road 1st Street Lane?

The current guideline value for Baracka Road 1st Street Lane is Rs 5,500 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 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 206% over the years.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is currently set at 7% of the guideline value or the sale price, whichever is higher.

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 does the guideline value affect property registration?

The guideline value is used to calculate the stamp duty and registration fees during property registration. It is essential for buyers and sellers to be aware of this value to ensure accurate financial planning for their transactions.