Guideline Value for Bakthavachalam Nagar 13th Street

Bakthavachalam Nagar 13th Street guideline value

The current guideline value of Bakthavachalam Nagar 13th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Bakthavachalam Nagar 13th Street has changed

The guideline value for Bakthavachalam Nagar 13th Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 700 per sq.ft. This figure 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, a decrease of 33%. The guideline value then rose sharply to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,800 per sq.ft in 2024, which is a 12% rise from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 300%, reflecting the changes in the area over the years. The transition from Rs 700 in 2007 to the current rate of Rs 2,800 per sq.ft highlights the fluctuations and adjustments made in the guideline values during these revisions.

Guideline values in Thalakanancherry

In Thalakanancherry, there are a total of 318 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, indicating that Bakthavachalam Nagar 13th Street's 2024 figure is below this median.

• Bakthavachalam Nagar 12th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 14th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 11th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 15th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 11th Cross Street*: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 16th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Nagar 13th 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 be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bakthavachalam Nagar 13th Street?

The Bakthavachalam Nagar 13th 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. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Thalakanancherry, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The guideline value may differ from the sale price, but the stamp duty is calculated based on the higher of the two, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Bakthavachalam Nagar 13th Street?

The current guideline value for Bakthavachalam Nagar 13th 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 from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers this street?

The Alandur Sub Registrar Office covers Bakthavachalam Nagar 13th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Bakthavachalam Nagar 13th Street?

The land classification for Bakthavachalam Nagar 13th Street is Residential Class II Type - II.