Guideline Value for BASKAR STREET

Baskar Street guideline value

The current guideline value of Baskar Street in Perumalagaram village is Rs 3,190 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class V Type - I.

How the guideline value of Baskar Street has changed

The guideline value for Baskar Street has undergone several revisions over the years. The earliest recorded figure is from 2012, set at Rs 2,900 per sq.ft. This value saw a decrease to Rs 1,943 per sq.ft in 2017, marking a decline of 33%. However, the subsequent revisions brought significant increases, with the value rising to Rs 2,900 per sq.ft in 2023 and then to Rs 3,190 per sq.ft in 2024, reflecting a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 2,900 in 2012 to Rs 3,190 in 2024, resulting in an overall increase of 10% over the 12-year period. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 825 to Rs 7,920 per sq.ft. The median value for these streets is Rs 3,190 per sq.ft, which aligns with the guideline value for Baskar Street.

• Bbcl Villa Haven: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,650 per sq.ft (2024)
• Aura Elio's: Rs 3,300 per sq.ft (2024)
• Attrankarai Street: Rs 2,420 per sq.ft (2024)
• Aparna Street: Rs 3,190 per sq.ft (2024)
• Anusha Street: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Baskar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty, charged at 7%, would amount to Rs 2,23,300, while the registration fee at 2% would be Rs 63,800. Together, the total cost for stamp duty and registration would be Rs 2,87,100. 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Baskar Street?

The Sub Registrar Office that covers Baskar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perumalagaram. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees. Buyers must ensure that the sale price is equal to or greater than the guideline value to avoid any issues during registration.

When a property is sold, the guideline value helps establish the official record of the transaction. This value is essential for both buyers and sellers, as it influences the financial obligations associated with the property transfer, including taxes and fees.

Frequently asked questions

What is the current guideline value of Baskar Street?

The current guideline value of Baskar Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 in 2012 to Rs 3,190 in 2024, with significant increases noted in 2023 and 2024. The value saw a decrease in 2017 but has since recovered and increased overall by 10% from 2012 to 2024.

What is the land classification of Baskar Street?

Baskar Street is classified as Residential Class V Type - I, indicating its designation for residential use within the area.

What are the stamp duty and registration fees for properties in Baskar Street?

The stamp duty for a property on Baskar Street is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 2,87,100.

Where can I find the Sub Registrar Office for Baskar Street?

The Sub Registrar Office covering Baskar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more details through the provided link.