Guideline Value for Bakiyalakshmi Nagar 1st Street

Bakiyalakshmi Nagar 1st Street guideline value

The current guideline value of Bakiyalakshmi Nagar 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Bakiyalakshmi Nagar 1st Street has changed

The guideline value for Bakiyalakshmi Nagar 1st Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,600 per sq.ft. In 2017, this value decreased to Rs 1,072 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,600 per sq.ft in 2023, and further rose to Rs 1,700 per sq.ft in the 2024 revision, representing a 6% increase from the previous year.

Looking at the changes, from 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, which indicates that the 2024 figure for Bakiyalakshmi Nagar 1st Street is below this median.

• Bakiyalakshmi Nagar 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Bakiyalakshmi Nagar: Rs 1,700 per sq.ft (2024)
• Bakiyalakshmi Nagar 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Bakiyalakshmi Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Bakiyalakshmi Nagar 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Bakiyalakshmi Nagar 3rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakiyalakshmi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 Bakiyalakshmi Nagar 1st Street?

The Bakiyalakshmi Nagar 1st Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Bakiyalakshmi Nagar 1st Street?

The current guideline value of Bakiyalakshmi Nagar 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Bakiyalakshmi Nagar 1st Street?

Bakiyalakshmi Nagar 1st Street is classified as Residential Class I Type - II.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, which is higher than the guideline value for Bakiyalakshmi Nagar 1st Street.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.