Guideline Value for BARACKA ROAD 2ND STREET

Baracka Road 2nd Street guideline value

The current guideline value of Baracka Road 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Baracka Road 2nd Street has changed

The guideline value for Baracka Road 2nd Street has undergone several revisions over the years. In 2007, the 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. The value rose again to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision.

From 2017 to 2023, there was a 49% increase, while the value rose by 10% from 2023 to 2024. The overall change from 2007 to 2024 reflects a substantial increase of 206%. The register has no figures for the years 2002 and 2003 for this street.

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 current value for Baracka Road 2nd Street.

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

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 amount for these fees to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Baracka Road 2nd Street?

The Sub Registrar Office that covers Baracka Road 2nd 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 Purasaivakkam

The guideline value is a crucial factor during property registration in Purasaivakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value can influence the overall transaction costs.

When registering a property, the guideline value serves as a benchmark for calculating the fees associated with the transaction. It is essential to refer to the latest revisions to ensure accurate calculations and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Baracka Road 2nd Street?

The current guideline value of Baracka Road 2nd Street 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 from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is revised periodically based on various factors. It serves as a reference point for calculating fees during property transactions.