Guideline Value for Bakthavachalam Nagar 2nd Street

Bakthavachalam Nagar 2nd Street guideline value

The current guideline value of Bakthavachalam Nagar 2nd 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 2nd Street has changed

The guideline value for Bakthavachalam Nagar 2nd Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. The value rose to Rs 2,500 per sq.ft again in 2023, and the latest revision in 2024 set it at Rs 2,800 per sq.ft.

Between the revisions, several changes occurred. From 2007 to 2012, there was a remarkable increase of 257%. However, from 2012 to 2017, the value dropped by 33%. The value then surged by 49% from 2017 to 2023 and increased by 12% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Thalakanancherry

In Thalakanancherry village, there are 318 streets under the Alandur SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,900 per sq.ft, indicating that Bakthavachalam Nagar 2nd Street's 2024 figure is below this median.

• Bakthavachalam Nagar 3rd Big Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 2nd Main road: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 2nd High Road: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 3rd High Road: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 2nd Big Street: Rs 2,800 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 rate of Rs 2,800 per sq.ft, the 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, totaling Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bakthavachalam Nagar 2nd Street?

The Bakthavachalam Nagar 2nd Street is covered by 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 an essential factor in the registration process when buying or selling property in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two values is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Bakthavachalam Nagar 2nd 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 is the land classification for Bakthavachalam Nagar 2nd Street?

The land classification for Bakthavachalam Nagar 2nd Street is Residential Class II Type - II.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Thalakanancherry?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, along with a registration fee of 2%.