Guideline Value for BASKAR NAGAR (S.No.356/2)

BASKAR NAGAR (S.No.356/2) guideline value

The current guideline value of BASKAR NAGAR (S.No.356/2) is Rs 2,500 per sq.ft, effective from 1 July 2024. This property is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of BASKAR NAGAR (S.No.356/2) has changed

The guideline value for BASKAR NAGAR has seen several revisions over the years. In 2002, the value was Rs 381 per sq.ft, which increased to Rs 430 per sq.ft in 2003, marking a change of +13%. The value continued to rise significantly, reaching Rs 850 per sq.ft in 2007, a change of +98%. By 2012, the value was Rs 2,300 per sq.ft, reflecting a substantial increase of +171%. However, it then decreased to Rs 1,541 per sq.ft in 2017, showing a decline of -33%. The guideline value rose again to Rs 2,300 per sq.ft in 2023, and most recently, it has increased to Rs 2,500 per sq.ft in 2024, which is a change of +9%.

Overall, from 2002 to 2024, the guideline value has increased by +556%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Padi

Padi village has a range of guideline values across its 354 streets under the Villivakkam SRO, with values ranging from Rs 2,200 to Rs 13,200 per sq.ft in 2024. The median value in this area is Rs 3,800 per sq.ft, placing BASKAR NAGAR's 2024 figure below that median.

• Bharathidasan Street: Rs 3,400 per sq.ft (2024)
• Balaji Nagar (Padi): Rs 4,400 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,800 per sq.ft (2024)
• Ayyothiamman Koil Street: Rs 2,500 per sq.ft (2024)
• Avvai Street: Rs 2,500 per sq.ft (2024)
• Chengal Choolai Pallam (Padikuppam Road): Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in BASKAR NAGAR (S.No.356/2)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. 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 further calculations.

Which Sub Registrar Office covers BASKAR NAGAR (S.No.356/2)?

The Sub Registrar Office that covers BASKAR NAGAR (S.No.356/2) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the duties and fees, which are essential for the legal transfer of ownership. It is important for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of BASKAR NAGAR?

The current guideline value of BASKAR NAGAR (S.No.356/2) is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 381 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of +556% over this period.

What is the registration office for BASKAR NAGAR?

The registration office for BASKAR NAGAR is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property in BASKAR NAGAR?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 25,00,000, the stamp duty at 7% would be Rs 1,75,000.

What are the guideline values of other streets in Padi?

Other streets in Padi have varying guideline values, with rates ranging from Rs 2,200 to Rs 13,200 per sq.ft in 2024. For example, Bharathidasan Street is Rs 3,400 per sq.ft, while Balaji Nagar (Padi) is Rs 4,400 per sq.ft.