Guideline Value for Bakthavachalam Nagar 2nd Main road

Bakthavachalam Nagar 2nd Main road guideline value

The current guideline value of Bakthavachalam Nagar 2nd Main road 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 2nd Main road has changed

Over the years, the guideline value of Bakthavachalam Nagar 2nd Main road has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,675 per sq.ft, reflecting a decrease of 33%. The value then increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and subsequently rose to Rs 2,800 per sq.ft in the 2024 revision, marking a 12% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the current 2024 value, there has been a 12% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 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 of Bakthavachalam Nagar 2nd Main road is below this median.

• Bakthavachalam Nagar 2nd High Road: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 2nd Big Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 3rd Big Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Nagar 2nd Main road

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 calculated at 7%, resulting in Rs 1,96,000, while the registration fee at 2% amounts to Rs 56,000. Together, the total 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.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthavachalam Nagar 2nd Main road?

The Bakthavachalam Nagar 2nd Main road 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 in the registration process of property transactions in Thalakanancherry. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar 2nd Main road?

The current guideline value of Bakthavachalam Nagar 2nd Main road is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations, with the most recent increase from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, a 12% rise. Overall, the value has increased by 12% from 2012 to 2024.

What is the land classification for Bakthavachalam Nagar 2nd Main road?

Bakthavachalam Nagar 2nd Main road is classified as Residential Class II Type - II, indicating its suitability for residential development.

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Bakthavachalam Nagar 2nd Main road?

The Alandur Sub Registrar Office is responsible for property registrations in Bakthavachalam Nagar 2nd Main road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.