Guideline Value for BAY WATCH FARMS

Bay Watch Farms guideline value

The current guideline value of Bay Watch Farms in Enjambakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This property falls under the Neelankarai SRO and is classified as Residential Class I Type - II.

How the guideline value of Bay Watch Farms has changed

The guideline value for Bay Watch Farms has undergone several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 750 per sq.ft. This figure saw a significant increase to Rs 3,000 per sq.ft in 2012, but then it dropped to Rs 2,010 per sq.ft in 2017. The value rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 300%, but then it decreased by 33% from 2012 to 2017. The value saw a substantial increase of 49% from 2017 to 2023, followed by a 10% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Bay Watch Farms is above this median.

• Bay Watch Farms 1st Street: Rs 3,300 per sq.ft (2024)
• Bay Watch Farms 2nd Street: Rs 3,300 per sq.ft (2024)
• Bay Watch Farms 3rd Street: Rs 3,300 per sq.ft (2024)
• Bethaiah Salai: Rs 1,100 per sq.ft (2024)
• Bhakthavedantha Swami Salai: Rs 3,300 per sq.ft (2024)
• Bharathi Avenue: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bay Watch Farms

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. 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 more details.

Which Sub Registrar Office covers Bay Watch Farms?

The Sub Registrar Office that covers Bay Watch Farms is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Enjambakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value set by the registration department, ensuring that the property is assessed fairly according to the local market standards.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. This value is periodically revised, reflecting changes in the real estate market and helping to maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Bay Watch Farms?

The current guideline value of Bay Watch Farms is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 340% over these years.

What are the other streets in Enjambakkam with similar guideline values?

Other streets in Enjambakkam with similar guideline values include Bay Watch Farms 1st Street, Bay Watch Farms 2nd Street, and Bay Watch Farms 3rd Street, all at Rs 3,300 per sq.ft for 2024.

What is the role of the Neelankarai SRO?

The Neelankarai SRO is responsible for maintaining the guideline value register and overseeing property registrations in the Enjambakkam area, ensuring compliance with local regulations.

How do I calculate the stamp duty and registration fees?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2% of the guideline value. You can use the stamp duty and registration fee calculator for precise calculations based on your property size.