Guideline Value for Bakiyam Nagar

Bakiyam Nagar guideline value

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

How the guideline value of Bakiyam Nagar has changed

The guideline value for Bakiyam Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision saw an increase to Rs 2,500 per sq.ft, followed by the current value of Rs 2,700 per sq.ft in 2024.

Between these revisions, notable changes include an increase of 900% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and an increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 8%. The register has no figures for the years 2002 and 2003 for this street.

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, indicating that Bakiyam Nagar's 2024 figure is above this median.

• Bakiyam Nagar 1st Street: 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

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 or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bakiyam Nagar?

The Sub Registrar Office that covers Bakiyam Nagar 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 further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the government receives the appropriate taxes based on the property's value. This helps maintain transparency in property transactions and prevents undervaluation.

Frequently asked questions

What is the current guideline value of Bakiyam Nagar?

The current guideline value of Bakiyam Nagar 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 250 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 980% over the years.

What are the other streets in Chembakkam with similar guideline values?

Other streets in Chembakkam with a guideline value of Rs 2,700 per sq.ft include Bakiyam Nagar 1st Street, Bakiyam Nagar 2nd Street, and Bakiyam Nagar Ext.

What is the registration fee for property in Bakiyam Nagar?

The registration fee for property in Bakiyam Nagar is calculated based on the guideline value. For example, a plot valued at Rs 27,00,000 would incur a registration fee of Rs 54,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Bakiyam Nagar?

The Sub Registrar Office for Bakiyam Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.