Guideline Value for Bakthavachalam Nagar 12th Street

Bakthavachalam Nagar 12th Street guideline value

The current guideline value for Bakthavachalam Nagar 12th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Bakthavachalam Nagar 12th Street has changed

The guideline value for Bakthavachalam Nagar 12th Street has seen several revisions over the years. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 257%. However, in 2017, the value dropped to Rs 1,675 per sq.ft, reflecting a decrease of 33%. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the most recent 2024 revision has set it at Rs 2,800 per sq.ft, an increase of 12% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Bakthavachalam Nagar 12th Street is below this median.

• Bakthavachalam Nagar 11th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 13th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 11th Cross Street*: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 14th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 10th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 15th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Nagar 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total cost for duty and registration would be Rs 2,52,000. 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 Nagar 12th Street?

The Bakthavachalam Nagar 12th Street falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official registry.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures that both parties are aware of the financial obligations involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar 12th Street?

The current guideline value of Bakthavachalam Nagar 12th Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 300% over this period.

What is the land classification for Bakthavachalam Nagar 12th Street?

Bakthavachalam Nagar 12th Street falls under the Residential Class II Type - II land classification.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Bakthavachalam Nagar 12th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a stamp duty of Rs 1,96,000.