Guideline Value for BHAKTHAVATCHALAM LANE

Bhakthavatchalam Lane guideline value

The current guideline value of Bhakthavatchalam Lane in Purasaivakkam village, under the Purasaivakkam SRO, is Rs 4,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

How the guideline value of Bhakthavatchalam Lane has changed

The guideline value for Bhakthavatchalam Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 150% rise. However, this value then decreased to Rs 3,015 per sq.ft in 2017, reflecting a 33% drop. The subsequent revision in 2023 saw the value increase to Rs 4,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 4,900 per sq.ft, a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 172%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Bhakthavatchalam Lane's 2024 figure below that median.

• Bhakthavatchalam Street: Rs 4,900 per sq.ft (2024)
• Bharatha Matha 1st Street: Rs 2,200 per sq.ft (2024)
• Bharatha Matha 2nd Street: Rs 2,200 per sq.ft (2024)
• B & C Staff Quarters (Jai Nagar): Rs 4,900 per sq.ft (2024)
• Barracks Gate Road: Rs 5,500 per sq.ft (2024)
• Barracks Gate Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bhakthavatchalam Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, resulting in a total of Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhakthavatchalam Lane?

The Sub Registrar Office that covers Bhakthavatchalam Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers need to be aware that the guideline value impacts the calculation of stamp duty and registration fees, which are essential costs in the property transaction process.

When a property is sold, the registration office uses the guideline value to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Bhakthavatchalam Lane?

The current guideline value of Bhakthavatchalam Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 172% over this period.

What land classification does Bhakthavatchalam Lane fall under?

Bhakthavatchalam Lane is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for properties in Bhakthavatchalam Lane?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Where is the Sub Registrar Office for Bhakthavatchalam Lane located?

The Sub Registrar Office for Bhakthavatchalam Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.