Guideline Value for Bakiyalakshmi Nagar 4th Cross Street

Bakiyalakshmi Nagar 4th Cross Street guideline value

The current guideline value of Bakiyalakshmi Nagar 4th Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Bakiyalakshmi Nagar 4th Cross Street has changed

In the 2012 revision, the guideline value was Rs 1,600 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,072 per sq.ft, marking a decline of 33%. Following this, the value saw a significant increase in the 2023 revision to Rs 1,600 per sq.ft, and then rose again to Rs 1,700 per sq.ft in the 2024 revision, reflecting a 6% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 6%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, placing Bakiyalakshmi Nagar 4th Cross Street's 2024 figure below that median.

• Bakiyalakshmi Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Bakiyalakshmi Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Bakiyalakshmi Nagar 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Bakiyalakshmi Nagar 5th Cross Street: Rs 1,700 per sq.ft (2024)
• Bakiyalakshmi Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Bakiyalakshmi Nagar 5th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bakiyalakshmi Nagar 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be 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, making the total cost Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakiyalakshmi Nagar 4th Cross Street?

The Sub Registrar Office that covers Bakiyalakshmi Nagar 4th Cross Street is 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid issues during registration.

During the registration process, the stamp duty and registration fees are calculated 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 Bakiyalakshmi Nagar 4th Cross Street?

The current guideline value of Bakiyalakshmi Nagar 4th Cross 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 back 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 4th Cross Street?

Bakiyalakshmi Nagar 4th Cross Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property in Bakiyalakshmi Nagar 4th Cross Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which Sub Registrar Office covers the area of Bakiyalakshmi Nagar 4th Cross Street?

The Selaiyur Sub Registrar Office covers Bakiyalakshmi Nagar 4th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.