Guideline Value for Bakthavachalam Nagar 14th Street

Bakthavachalam Nagar 14th Street guideline value

The current guideline value of Bakthavachalam Nagar 14th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village, under the Alandur SRO, with a land classification of Residential Class II Type - II.

How the guideline value of Bakthavachalam Nagar 14th Street has changed

The guideline value of Bakthavachalam Nagar 14th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% rise. However, the value then dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 2,500 per sq.ft, which was then increased to Rs 2,800 per sq.ft in 2024, reflecting a 12% increase.

Between 2017 and 2023, the guideline value saw a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 300%. It is important to note that there are no figures available for the revisions in 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. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Bakthavachalam Nagar 14th Street's current value below this median.

• Bakthavachalam Nagar 11th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 12th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 13th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 14th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 15th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 16th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 17th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Nagar 14th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty is charged at 7%, which totals Rs 1,96,000, and the registration fee is charged at 2%, amounting to Rs 56,000. Therefore, the total cost for stamp duty and registration fees 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bakthavachalam Nagar 14th Street?

The Bakthavachalam Nagar 14th Street falls under the jurisdiction of the Alandur Sub Registrar Office. The office is 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 during the registration of properties in Thalakanancherry. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This helps in standardizing property transactions and provides a clear framework for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar 14th Street?

The current guideline value of Bakthavachalam Nagar 14th 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 increased 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 property in Bakthavachalam Nagar 14th Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,52,000.

Which Sub Registrar Office covers this area?

The Alandur Sub Registrar Office covers Bakthavachalam Nagar 14th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Thalakanancherry?

The median guideline value for streets in Thalakanancherry is Rs 3,900 per sq.ft, with Bakthavachalam Nagar 14th Street's value being below this median.