Guideline Value for Bakthavachalam Nagar 2nd Street

Bakthavachalam Nagar 2nd Street guideline value

The current guideline value for Bakthavachalam Nagar 2nd Street is Rs 9,400 per sq.ft, effective from 1 July 2024. This street is located in Pallipattu village, under the Adayar SRO, and is classified as Residential Special Type - I.

How the guideline value of Bakthavachalam Nagar 2nd Street has changed

The guideline value for Bakthavachalam Nagar 2nd Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 994 per sq.ft. This increased to Rs 1,087 per sq.ft in 2003, marking a 9% change. The value then rose significantly to Rs 3,000 per sq.ft in 2007, which was a 176% increase. Following that, in 2012, the value decreased to Rs 8,500 per sq.ft, reflecting a decline of 33%. The 2017 revision saw a substantial increase to Rs 5,695 per sq.ft, which was a 49% rise. In 2023, the value further increased to Rs 8,500 per sq.ft, and the latest revision in 2024 set it at Rs 9,400 per sq.ft, representing an 11% increase.

There are no figures available for the revisions in the years not listed for this street. Overall, from 2002 to 2024, the guideline value has increased by 846%.

Guideline values in Pallipattu

In Pallipattu village, there are 72 streets under the Adayar SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value for these streets is Rs 9,400 per sq.ft, which is equal to the current guideline value for Bakthavachalam Nagar 2nd Street.

• Bakthavachalam Nagar 1st Street: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 3rd Street: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 1st Main Road: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 4th Street: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 5th Street: Rs 9,400 per sq.ft (2024)
• Bakthavachalam Nagar 6th Main Road: Rs 9,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 9,400 per sq.ft, the total guideline value would be Rs 94,00,000. The stamp duty at 7% would amount to Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, bringing the total to Rs 8,46,000. It is important to note that 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 2nd Street?

The Adayar Sub Registrar Office covers Bakthavachalam Nagar 2nd Street. The office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pallipattu. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, which is based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Bakthavachalam Nagar 2nd Street?

The current guideline value for Bakthavachalam Nagar 2nd Street is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 994 per sq.ft in 2002 to Rs 9,400 per sq.ft in 2024, showing an overall increase of 846% over the years.

What is the land classification for Bakthavachalam Nagar 2nd Street?

The land classification for Bakthavachalam Nagar 2nd Street is Residential Special Type - I.

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

For a property valued at Rs 94,00,000, the stamp duty would be Rs 6,58,000 and the registration fee would be Rs 1,88,000, totaling Rs 8,46,000.

Where can I find the Sub Registrar Office for Bakthavachalam Nagar 2nd Street?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone.