Guideline Value for BASKARAPURAM

Baskarapuram guideline value

The current guideline value of Baskarapuram, located in Mylapore village under the Mylapore SRO, is Rs 13,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Baskarapuram has changed

The guideline value of Baskarapuram has seen significant changes over the years. In 2002, the value was Rs 1,478 per sq.ft, which increased to Rs 1,709 per sq.ft in 2003, marking a rise of 16%. The value then continued to rise to Rs 1,950 per sq.ft in 2007, representing a 14% increase. A substantial jump occurred in 2012 when the value reached Rs 12,000 per sq.ft, reflecting a remarkable 515% increase from the previous revision. However, in 2017, the value dropped to Rs 8,040 per sq.ft, a decrease of 33%. The trend reversed again, with the value rising to Rs 12,000 per sq.ft in 2023, and then reaching the current figure of Rs 13,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 793%. There are no figures available for any other years for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Baskarapuram is above this median.

• Batcha Garden II Lane: Rs 3,300 per sq.ft (2024)
• Batcha Garden I Lane: Rs 3,300 per sq.ft (2024)
• Batsha Garden: Rs 4,900 per sq.ft (2024)
• Bawa Salai: Rs 8,800 per sq.ft (2024)
• Bazaar Lane: Rs 4,900 per sq.ft (2024)
• Bazaar Road: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Baskarapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees together to Rs 11,88,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Baskarapuram?

Baskarapuram falls under the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Baskarapuram?

The current guideline value of Baskarapuram is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,478 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, marking an overall increase of 793% over the years.

What is the land classification of Baskarapuram?

Baskarapuram is classified as Residential Class II Type - I, which indicates its designation for residential purposes.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How are stamp duty and registration fees calculated in Baskarapuram?

Stamp duty is calculated at 7% and registration fees at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 11,88,000.