Guideline Value for Bakathavachalam Street

Bakathavachalam Street guideline value

The current guideline value of Bakathavachalam Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Bakathavachalam Street has changed

The guideline value for Bakathavachalam Street has seen significant changes over the years. In the 2003 revision, the value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. The 2017 revision marked a substantial rise to Rs 1,340 per sq.ft, followed by another increase to Rs 2,000 per sq.ft in 2023. The current value of Rs 2,200 per sq.ft reflects a 10% increase from the previous year.

There are no figures available for the years 2002 and 2012 in the register for Bakathavachalam Street. Overall, from 2003 to 2024, the guideline value has increased by 605%.

Guideline values in Thiruneermalai

In Thiruneermalai village, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, placing Bakathavachalam Street's current value below this median.

• Bajanai Koil Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Avaiyar Street: Rs 2,420 per sq.ft (2024)
• Bharathidasan Street: Rs 2,420 per sq.ft (2024)
• Bharathidasan Street Extn.,: Rs 2,420 per sq.ft (2024)
• Bharathidhasan 1st Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Bakathavachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bakathavachalam Street?

The Sub Registrar Office that covers Bakathavachalam Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the transfer of ownership. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Bakathavachalam Street?

The current guideline value of Bakathavachalam Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 312 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking a total increase of 605% over this period.

What are the stamp duty and registration fees for property in Bakathavachalam Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Bakathavachalam Street?

The Pammal Sub Registrar Office covers Bakathavachalam Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Bakathavachalam Street?

Bakathavachalam Street is classified as Residential Class I Type - II according to the guideline value register.