Guideline Value for Bakthavachalam Lane

Bakthavachalam Lane guideline value

The current guideline value of Bakthavachalam Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village, under the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Bakthavachalam Lane has changed

The guideline value for Bakthavachalam Lane has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 150%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The value then saw a substantial increase to Rs 3,000 per sq.ft in 2023, and further rose by 10% to the current value of Rs 3,300 per sq.ft in 2024.

To summarize the changes: from 2017 to 2023, the value increased by 49%, and overall from 2007 to 2024, the increase is 175%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, indicating that Bakthavachalam Lane's 2024 figure is below this median.

• Bajanai Koil Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar: Rs 3,300 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Ayyappa Nagar Ist Street: Rs 4,900 per sq.ft (2024)
• Ayyappa Nagar 6th Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Bakthavachalam Lane?

The Bakthavachalam Lane falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Koyakbedu. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both parties are aware of the official value assigned to the property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Bakthavachalam Lane?

The current guideline value of Bakthavachalam Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with several revisions in between. Notably, there was a significant increase of 150% from 2007 to 2012 and a subsequent decrease from 2012 to 2017.

What is the median guideline value in Koyakbedu?

The median guideline value in Koyakbedu is Rs 4,400 per sq.ft for the year 2024. Bakthavachalam Lane's current guideline value is below this median.

What are the stamp duty and registration fees for Bakthavachalam Lane?

The stamp duty for a property valued at Rs 33,00,000 would be Rs 2,31,000, with an additional registration fee of Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Bakthavachalam Lane?

The registration for Bakthavachalam Lane is handled by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.