Guideline Value for Bakthavachalam Nagar 6th Street

Bakthavachalam Nagar 6th Street guideline value

The current guideline value for Bakthavachalam Nagar 6th 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 6th Street has changed

The guideline value for Bakthavachalam Nagar 6th Street has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 257%. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then saw a substantial increase to Rs 2,500 per sq.ft in 2023, followed by another rise to Rs 2,800 per sq.ft in 2024, reflecting a growth of 12%.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%, demonstrating significant changes over the years.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Bakthavachalam Nagar 6th Street is below this median.

• Bakthavachalam Nagar 7th Cross Street*: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 6th Cross Street*: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 8th 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 6th 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 amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bakthavachalam Nagar 6th Street?

The Sub Registrar Office that covers Bakthavachalam Nagar 6th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thalakanancherry. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate taxes on property transactions.

Frequently asked questions

What is the current guideline value for Bakthavachalam Nagar 6th Street?

The current guideline value for Bakthavachalam Nagar 6th 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 an overall increase of 300% over the years.

What is the land classification for Bakthavachalam Nagar 6th Street?

Bakthavachalam Nagar 6th Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft property at the current guideline value, the total fees would be Rs 2,52,000, which includes stamp duty and registration fees based on the guideline value.

Which office handles registrations for properties in this area?

The Alandur Sub Registrar Office handles registrations for properties in Bakthavachalam Nagar 6th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.