Guideline Value for Bakrapet kilaku Street

Bakrapet kilaku Street guideline value

The current guideline value of Bakrapet kilaku 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 kilaku Street has changed

The guideline value for Bakrapet kilaku Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision, and currently stands at Rs 1,100 per sq.ft as per the 2024 revision, reflecting a 10% increase from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in 2nd Division

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

• Bakrapet 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 kilaku 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, totaling 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 the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Bakrapet kilaku Street?

The Bakrapet kilaku Street falls under the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in the 2nd Division. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware that the guideline value is set by the government and is subject to periodic revisions.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that all transactions are conducted in compliance with legal requirements. It is essential for both buyers and sellers to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bakrapet kilaku Street?

The current guideline value of Bakrapet kilaku 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 changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Bakrapet kilaku Street?

Bakrapet kilaku Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Bakrapet kilaku Street?

The Kanchipuram Joint IV Sub Registrar Office covers Bakrapet kilaku Street, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Bakrapet kilaku Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.