Guideline Value for Bakthavachalam Nagar 3rd Street

Bakthavachalam Nagar 3rd Street guideline value

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

The guideline value for Bakthavachalam Nagar 3rd Street has seen several revisions over the years. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in the 2012 revision. However, there was a decrease to Rs 1,675 per sq.ft in the 2017 revision. From 2017 to 2023, the value rose sharply by 49% to Rs 2,500 per sq.ft, and the most recent 2024 revision has further increased it to Rs 2,800 per sq.ft, marking a 12% rise from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, making the guideline value for Bakthavachalam Nagar 3rd Street below this median.

• Bakthavachalam Nagar 4th Cross Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 3rd Main Road: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 3rd High Road: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 5th Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Nagar 3rd 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, bringing the total cost for these fees to 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bakthavachalam Nagar 3rd Street?

The Bakthavachalam Nagar 3rd Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration of property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property, which can influence negotiations. Buyers should be aware of the guideline value to ensure they are paying a fair price, while sellers can use it to set competitive pricing for their properties.

Frequently asked questions

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

The current guideline value of Bakthavachalam Nagar 3rd 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 significantly from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 300% over this period.

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.

Which Sub Registrar Office is responsible for Bakthavachalam Nagar 3rd Street?

The Alandur Sub Registrar Office is responsible for Bakthavachalam Nagar 3rd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, 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, while Bakthavachalam Nagar 3rd Street's guideline value is below this median at Rs 2,800 per sq.ft.