Guideline Value for Bakthavachalam Nagar 3rd High Road

Bakthavachalam Nagar 3rd High Road guideline value

The current guideline value of Bakthavachalam Nagar 3rd High Road is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of Bakthavachalam Nagar 3rd High Road has changed

The guideline value for Bakthavachalam Nagar 3rd High Road has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% rise. However, by 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, and finally, it reached the current value of Rs 2,800 per sq.ft in 2024, reflecting a 12% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, the guideline value has increased by 300% from the 2007 figure to the current 2024 value. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO, with guideline values 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, indicating that Bakthavachalam Nagar 3rd High Road's 2024 figure is below this median.

• Bakthavachalam Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 3rd Main Road: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 3rd Big Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 4th Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Nagar 3rd High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Therefore, the total cost for these 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 3rd High Road?

The Bakthavachalam Nagar 3rd High 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 plays a crucial role in property transactions in Thalakanancherry. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for property registration. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for both buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Understanding these values can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar 3rd High Road?

The current guideline value of Bakthavachalam Nagar 3rd High Road 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 3rd High Road?

The land classification for Bakthavachalam Nagar 3rd High Road is Residential Class II Type - II.

What are the stamp duty and registration fees for property 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.

Which office handles registrations for Bakthavachalam Nagar 3rd High Road?

The Alandur Sub Registrar Office handles registrations for Bakthavachalam Nagar 3rd High Road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.