Guideline Value for BASHYAM REDDY 3RD STREET

Bashyam Reddy 3rd Street guideline value

The current guideline value of Bashyam Reddy 3rd Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Bashyam Reddy 3rd Street has changed

The guideline value for Bashyam Reddy 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 550 per sq.ft. This increased to Rs 700 per sq.ft in 2007, followed by a significant jump to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023 before the latest increase to Rs 3,800 per sq.ft in 2024. The register has no figure for this street in 2002.

In terms of percentage changes, from 2003 to 2007, there was an increase of 27%. The value then surged by 400% from 2007 to 2012. After a decline of 33% from 2012 to 2017, the value saw a substantial increase of 49% from 2017 to 2023. The most recent revision from 2023 to 2024 reflects a rise of 9%. Overall, from 2003 to 2024, the guideline value has increased by 591%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Bashyam Reddy 3rd Street above this median.

• Bashyam Reddy 2nd Street: Rs 3,800 per sq.ft (2024)
• Bashyam Reddy Main Road: Rs 3,800 per sq.ft (2024)
• Bashyam Reddy 1st Street: Rs 3,200 per sq.ft (2024)
• Barathi Road 2nd Street: Rs 5,400 per sq.ft (2024)
• Barathi Road 1st Street: Rs 5,400 per sq.ft (2024)
• Barathi Road: Rs 6,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bashyam Reddy 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Bashyam Reddy 3rd Street?

The Sub Registrar Office that covers Bashyam Reddy 3rd 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 Perambur

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair price of the property. It is essential to note that the stamp duty is charged on the higher of the guideline value and the sale price, ensuring that the registration reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Bashyam Reddy 3rd Street?

The current guideline value of Bashyam Reddy 3rd Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 550 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024. Significant changes include a 400% increase from 2007 to 2012 and a 49% increase from 2017 to 2023.

What is the land classification of Bashyam Reddy 3rd Street?

Bashyam Reddy 3rd Street is classified as Residential Class II Type - II. This classification is important for understanding the type of development permitted in the area.

Where can I find the Sub Registrar Office for Bashyam Reddy 3rd Street?

The Sub Registrar Office for Bashyam Reddy 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Bashyam Reddy 3rd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty at 7% would be Rs 2,66,000.