Guideline Value for Bakthavachalam Nagar 1st Cross Street

Bakthavachalam Nagar 1st Cross Street guideline value

The current guideline value of Bakthavachalam Nagar 1st Cross 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 is classified as Residential Class II Type - II.

How the guideline value of Bakthavachalam Nagar 1st Cross Street has changed

The guideline value for Bakthavachalam Nagar 1st Cross Street has seen several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then increased again to Rs 2,500 per sq.ft in 2023, a 49% rise, before reaching the current figure of Rs 2,800 per sq.ft in 2024, which is a 12% increase.

It is important to note that 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 273%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that have 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 of Bakthavachalam Nagar 1st Cross Street is below this median.

• Bakthavachalam Nagar 1st Cross Lane: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 19th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar1st Main Road: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 18th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 17th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Nagar 1st Cross 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 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bakthavachalam Nagar 1st Cross Street?

The Sub Registrar Office that covers Bakthavachalam Nagar 1st Cross Street is 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 further assistance.

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

The guideline value is a critical factor in the registration process for property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar 1st Cross Street?

The current guideline value of Bakthavachalam Nagar 1st Cross 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 several times, starting from Rs 750 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 273% since 2007.

What is the land classification for Bakthavachalam Nagar 1st Cross Street?

Bakthavachalam Nagar 1st Cross Street is classified as Residential Class II Type - II.

Where can I find the registration office for this area?

The registration office for Bakthavachalam Nagar 1st Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 at 7%.