Guideline Value for Bakiyam Nagar 1st Street

Bakiyam Nagar 1st Street guideline value

The current guideline value of Bakiyam Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - III.

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

The guideline value for Bakiyam Nagar 1st Street has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,700 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the 2012 and 2017 revisions, there was a decline of 33%. However, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects an increase of 8%, bringing the overall change from 2012 to 2024 to an increase of 8% as well.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. Bakiyam Nagar 1st Street's 2024 guideline value of Rs 2,700 per sq.ft is above this median.

• Bakiyam Nagar: Rs 2,700 per sq.ft (2024)
• Bakiyam Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Bakiyam Nagar Ext: Rs 2,700 per sq.ft (2024)
• Balaji Avenue: Rs 1,600 per sq.ft (2024)
• Balaji Avenue 1st Cross Street: Rs 1,600 per sq.ft (2024)
• Balaji Avenue 2nd Cross Street: Rs 1,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Bakiyam Nagar 1st Street?

The Sub Registrar Office covering Bakiyam Nagar 1st 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 Chembakkam

When buying or selling property in Chembakkam, the guideline value is a crucial factor in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is properly documented and taxed.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of Bakiyam Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the other streets with the same guideline value in Chembakkam?

Other streets in Chembakkam with the same guideline value of Rs 2,700 per sq.ft include Bakiyam Nagar 2nd Street and Bakiyam Nagar Ext.

What is the registration fee for property in Bakiyam Nagar 1st Street?

The registration fee for property in Bakiyam Nagar 1st Street is calculated at 2% of the guideline value. For a 1,000 sq.ft plot, this would amount to Rs 54,000.

How can I calculate stamp duty for property in Bakiyam Nagar 1st Street?

Stamp duty for property in Bakiyam Nagar 1st Street is charged at 7% of the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for accurate calculations.