Guideline Value for Bakiyam Nagar 2nd Street

Bakiyam Nagar 2nd Street guideline value

The current guideline value of Bakiyam Nagar 2nd 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 2nd Street has changed

Over the years, the guideline value of Bakiyam Nagar 2nd Street has seen several revisions. The earliest available figure is from 2012, when it was Rs 2,500 per sq.ft. This value remained unchanged in the subsequent revision in 2017, where it dropped to Rs 1,675 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007. Overall, comparing the 2012 figure to the current 2024 value, there has been an 8% increase.

Guideline values in Chembakkam

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

• Bakiyam Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Bakiyam Nagar Ext: Rs 2,700 per sq.ft (2024)
• Bakiyam Nagar: 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 2nd 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, making the total cost for these charges Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bakiyam Nagar 2nd Street?

The Sub Registrar Office that covers Bakiyam Nagar 2nd 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

The guideline value is a crucial factor during property registration in Chembakkam. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay when a property transaction occurs.

When a property is sold, the guideline value is used to determine the minimum value on which these fees are calculated. This ensures that the government receives appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Bakiyam Nagar 2nd Street?

The current guideline value of Bakiyam Nagar 2nd 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 increased to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,700 per sq.ft in 2024.

What is the land classification of Bakiyam Nagar 2nd Street?

Bakiyam Nagar 2nd Street is classified as Residential Class I Type - III.

What is the registration fee for property in Bakiyam Nagar 2nd Street?

The registration fee for property in Bakiyam Nagar 2nd Street is calculated based on the guideline value, which is currently Rs 2,700 per sq.ft.

Where is the Selaiyur Sub Registrar Office located?

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