Guideline Value for BASHYAM REDDY MAIN ROAD

Bashyam Reddy Main Road guideline value

The current guideline value of Bashyam Reddy Main Road is Rs 3,800 per sq.ft, effective from 1 July 2024. This road is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Bashyam Reddy Main Road has changed

The guideline value for Bashyam Reddy Main Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 501 per sq.ft. It increased to Rs 550 per sq.ft in 2003, followed by a rise to Rs 700 per sq.ft in 2007. The 2012 revision saw a significant jump to Rs 3,500 per sq.ft, but this was followed by a decrease to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and finally, it is now Rs 3,800 per sq.ft as of the 2024 revision.

In terms of percentage changes, from 2002 to 2024, the overall increase is +658%. The changes between revisions are as follows: from 2002 to 2003, there was a +10% increase; from 2003 to 2007, it rose by +27%; the jump from 2007 to 2012 was +400%; however, from 2012 to 2017, there was a decrease of -33%. The value then increased by +49% from 2017 to 2023, and finally, from 2023 to 2024, it increased by +9%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Bashyam Reddy Main Road's 2024 figure of Rs 3,800 per sq.ft is above this median.

• Bashyam Reddy 3rd Street: Rs 3,800 per sq.ft (2024)
• Bashyam Reddy 2nd Street: 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bashyam Reddy Main Road?

The Sub Registrar Office that covers Bashyam Reddy Main 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 Perambur

The guideline value is a crucial factor when registering property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be sold or bought. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When you register a property, the guideline value ensures that the transaction is recorded at a fair value, thus helping to maintain transparency in property dealings. Buyers and sellers should always be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bashyam Reddy Main Road?

The current guideline value of Bashyam Reddy Main Road 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 from Rs 501 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, showing an overall increase of +658% over the years.

What is the land classification for Bashyam Reddy Main Road?

The land classification for Bashyam Reddy Main Road is Residential Class II Type - II, which indicates its use for residential purposes.

What are the stamp duty and registration fees for property in Bashyam Reddy Main Road?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft, the total costs would amount to Rs 3,42,000.

Which office handles property registration for Bashyam Reddy Main Road?

The Purasaivakkam Sub Registrar Office handles property registration for Bashyam Reddy Main Road, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.