Guideline Value for Bakthavachalam Nagar 5th Street

Bakthavachalam Nagar 5th Street guideline value

The current guideline value of Bakthavachalam Nagar 5th 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 5th Street has changed

Over the years, the guideline value for Bakthavachalam Nagar 5th Street has undergone several revisions. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value decreased by 33% to Rs 1,675 per sq.ft in the 2017 revision. Following that, the value rose sharply by 49% to Rs 2,500 per sq.ft in 2023, and then further increased by 12% to the current value of Rs 2,800 per sq.ft in 2024.

The register does not contain figures 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 carry 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, positioning Bakthavachalam Nagar 5th Street's 2024 figure below that median.

• Bakthavachalam Nagar 6th Cross Street*: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 5th Cross Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 7th Cross 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 5th Street

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 be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, resulting in a total of 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthavachalam Nagar 5th Street?

The Bakthavachalam Nagar 5th Street falls under 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

The guideline value plays a crucial role in the registration process when buying or selling property in Thalakanancherry. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

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

The current guideline value of Bakthavachalam Nagar 5th 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 a significant increase of 300% over the years.

What is the land classification for Bakthavachalam Nagar 5th Street?

The land classification for Bakthavachalam Nagar 5th Street is Residential Class II Type - II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, and the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot, the total cost would be Rs 2,52,000.

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.