Guideline Value for BARRACKS GATE ROAD

Barracks Gate Road guideline value

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

How the guideline value of Barracks Gate Road has changed

The guideline value for Barracks Gate Road has seen several revisions over the years. The earliest recorded value is from 2007, which was Rs 1,800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, the value then dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2023 set the value at Rs 5,000 per sq.ft, which then increased to Rs 5,500 per sq.ft in 2024, reflecting a 10% rise.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

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 value is Rs 5,500 per sq.ft, which is equal to the current guideline value of Barracks Gate Road.

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

Stamp duty and registration fee for property in Barracks Gate Road

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, totaling 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.

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

Which Sub Registrar Office covers Barracks Gate Road?

The Sub Registrar Office that covers Barracks Gate Road 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 an essential factor in the registration process of property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees, ensuring that the transaction is recorded accurately according to the prevailing rates set by the Registration Department.

When buying or selling property, it is crucial to be aware of the guideline value as it directly impacts the financial obligations associated with the transaction. Buyers should ensure that they are informed about the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Barracks Gate Road?

The current guideline value of Barracks Gate Road 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, showing an overall increase of 206% over the years.

What was the guideline value in 2023?

The guideline value for Barracks Gate Road in 2023 was Rs 5,000 per sq.ft.

Which office handles property registrations for Barracks Gate Road?

The Purasaivakkam Sub Registrar Office handles property registrations for Barracks Gate Road, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a total guideline value of Rs 55,00,000, leading to specific fees based on that amount.