Guideline Value for BASKAR NAGAR 1ST & 2ND CROSS STREET

Baskar Nagar 1st & 2nd Cross Street guideline value

The current guideline value for Baskar Nagar 1st & 2nd Cross Street in Kilkattalai village, under the Pallavaram SRO, is Rs 2,530 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - II land classification.

How the guideline value of Baskar Nagar 1st & 2nd Cross Street has changed

The guideline value for Baskar Nagar 1st & 2nd Cross Street has seen several revisions over the years. The 2024 revision sets the value at Rs 2,530 per sq.ft, an increase from the 2023 revision of Rs 2,300 per sq.ft, marking a change of +10%. Prior to that, in 2017, the guideline value was Rs 1,541 per sq.ft, which indicates a significant increase of +49% over the six years leading up to 2023. The 2012 revision had a value of Rs 2,300 per sq.ft, showing a decrease of -33% to the 2017 figure.

Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by +10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value among these streets is Rs 2,530 per sq.ft, which is the same as the current value for Baskar Nagar 1st & 2nd Cross Street.

• Baskar Nagar 1 And 2nd Streets: Rs 2,530 per sq.ft (2024)
• Baskar Nagar: Rs 2,530 per sq.ft (2024)
• Balaram Nagar: Rs 2,200 per sq.ft (2024)
• Balamurugan Nagar 1 To 9 Streets: Rs 2,750 per sq.ft (2024)
• Balamurugan Nagar: Rs 2,750 per sq.ft (2024)
• Bharathi Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Baskar Nagar 1st & 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total fees to Rs 2,27,700. 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 Baskar Nagar 1st & 2nd Cross Street?

The Baskar Nagar 1st & 2nd Cross Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important factor when registering a property in Kilkattalai. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price of the property.

When selling a property, the guideline value can influence the sale price and the overall transaction process. It is essential for both buyers and sellers to understand this value to ensure compliance with the registration requirements and to avoid any potential issues during the sale.

Frequently asked questions

What is the current guideline value of Baskar Nagar 1st & 2nd Cross Street?

The current guideline value of Baskar Nagar 1st & 2nd Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2023 to Rs 2,530 per sq.ft in 2024, a +10% increase. The value was Rs 1,541 per sq.ft in 2017 and Rs 2,300 per sq.ft in 2012, showing significant changes over the years.

What is the land classification for Baskar Nagar 1st & 2nd Cross Street?

The land classification for Baskar Nagar 1st & 2nd Cross Street is Residential Class I Type - II. This classification affects the guideline value and the potential uses of the property.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Baskar Nagar 1st & 2nd Cross Street?

The registration for Baskar Nagar 1st & 2nd Cross Street is handled by the Pallavaram Sub Registrar Office, located in Chromepet, Chennai. This office is responsible for property registrations in the area.