Guideline Value for Bakthavachalam Nagar 3rd Big Street

Bakthavachalam Nagar 3rd Big Street guideline value

The current guideline value of Bakthavachalam Nagar 3rd Big 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 3rd Big Street has changed

Over the years, the guideline value for Bakthavachalam Nagar 3rd Big Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% rise. However, in 2017, the value dropped to Rs 1,675 per sq.ft, reflecting a decrease of 33%. The subsequent revision in 2023 brought the value back up to Rs 2,500 per sq.ft, and the latest revision in 2024 set it at Rs 2,800 per sq.ft, an increase of 12% from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. The overall change from the 2007 revision to the 2024 revision shows a substantial increase of 300% in the guideline value.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that have a guideline value for 2024, 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 3rd Big Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in Bakthavachalam Nagar 3rd Big 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, totaling 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 information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthavachalam Nagar 3rd Big Street?

The Bakthavachalam Nagar 3rd Big Street 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 details.

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

When buying or selling property in Thalakanancherry, the guideline value is a critical factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated fairly based on the property's assessed value.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall transaction costs. Understanding the guideline value helps in making informed decisions during property transactions, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar 3rd Big Street?

The current guideline value of Bakthavachalam Nagar 3rd Big 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, showing an overall increase of 300% over the years.

What are the registration fees associated with buying property here?

The registration fees are calculated based on the guideline value. 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.

Which office handles property registrations for this area?

The Alandur Sub Registrar Office handles property registrations for Bakthavachalam Nagar 3rd Big Street, located at 12 Ist Main Road, Nanganallur, Chennai-600061.

What is the median guideline value for streets in Thalakanancherry?

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