Guideline Value for Bakrapet Street

Bakrapet Street guideline value

The current guideline value of Bakrapet Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in the 2nd Division village under the Kanchipuram Joint IV SRO, classified as Residential Class II Type - II.

How the guideline value of Bakrapet Street has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft, marking a decline of 33%. The next revision in 2023 saw a significant increase to Rs 1,000 per sq.ft, followed by a 10% rise to the current value of Rs 1,100 per sq.ft in 2024.

Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in 2nd Division

In the 2nd Division, there are 101 streets under the Kanchipuram Joint IV SRO with a 2024 guideline value ranging from Rs 800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that Bakrapet Street's current value is below this median.

• Bakrapet kilaku Street: Rs 1,100 per sq.ft (2024)
• Bakrapet Thumbavanam: Rs 1,100 per sq.ft (2024)
• Bangarau Aasappan Street: Rs 1,100 per sq.ft (2024)
• Ashtapujam Veeranand Cheety Street: Rs 1,320 per sq.ft (2024)
• Ashtapujam Thendai Mada Street: Rs 1,100 per sq.ft (2024)
• Ashtapujam Sannathi Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bakrapet Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total cost of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bakrapet Street?

The Kanchipuram Joint IV Sub Registrar Office covers Bakrapet Street. The office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value plays a crucial role in property transactions in the 2nd Division. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is considered alongside the sale price to calculate the applicable duties. This ensures that the transaction is recorded accurately and that the necessary fees are collected by the authorities.

Frequently asked questions

What is the current guideline value of Bakrapet Street?

The current guideline value of Bakrapet Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the median guideline value in 2nd Division?

The median guideline value for streets in the 2nd Division is Rs 1,650 per sq.ft, which means Bakrapet Street's current value is below this median.

What are the stamp duty and registration fees for properties in Bakrapet Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000. The duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Bakrapet Street?

The Kanchipuram Joint IV Sub Registrar Office is responsible for the registration of properties in Bakrapet Street, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.