Guideline Value for Bakthavachalam Nagar 5th Cross Street

Bakthavachalam Nagar 5th Cross Street guideline value

The current guideline value of Bakthavachalam Nagar 5th Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village and falls under the Alandur SRO. The land classification is Residential Class II Type - II.

How the guideline value of Bakthavachalam Nagar 5th Cross Street has changed

The guideline value of Bakthavachalam Nagar 5th Cross 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 2012, marking a 257% increase. However, in 2017, the value dropped to Rs 1,675 per sq.ft, resulting in a decrease of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, and finally, the current revision in 2024 has set it at Rs 2,800 per sq.ft, an increase of 12% from the previous year.

In summary, from 2007 to 2024, the guideline value has increased by 300%. The register does not contain 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 in this area is Rs 3,900 per sq.ft, indicating that the 2024 figure for Bakthavachalam Nagar 5th Cross Street is below this median.

• Bakthavachalam Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 4th Cross Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 6th Cross Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 6th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Nagar 5th Cross 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 fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthavachalam Nagar 5th Cross Street?

The Bakthavachalam Nagar 5th Cross 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 plays a crucial role during property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value of properties for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is officially recognized and that the necessary taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar 5th Cross Street?

The current guideline value of Bakthavachalam Nagar 5th Cross 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, marking an overall increase of 300% over the years.

What is the median guideline value in Thalakanancherry?

The median guideline value in Thalakanancherry is Rs 3,900 per sq.ft, which is higher than the current value of Bakthavachalam Nagar 5th Cross Street.

What fees are associated with buying property in Bakthavachalam Nagar 5th Cross Street?

When buying property, the total fees include stamp duty at 7% and a registration fee at 2%, calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Bakthavachalam Nagar 5th Cross Street?

The Alandur Sub Registrar Office handles registrations for Bakthavachalam Nagar 5th Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.