Guideline Value for Bakthavachalam Nagar 7th Street

Bakthavachalam Nagar 7th Street guideline value

The current guideline value for Bakthavachalam Nagar 7th 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 for this area is Residential Class II Type - II.

How the guideline value of Bakthavachalam Nagar 7th Street has changed

The guideline value for Bakthavachalam Nagar 7th Street has undergone several revisions over the years. The earliest recorded value in 2007 was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value dropped to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. From 2017 to 2023, the value rose to Rs 2,500 per sq.ft, and then further increased to the current rate of Rs 2,800 per sq.ft in 2024, reflecting a 12% rise.

There are no figures available for the revisions in 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 with 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, placing Bakthavachalam Nagar 7th Street's 2024 figure below the median.

• Bakthavachalam Nagar 8th Cross street*: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 7th Cross Street*: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 8th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 9th Cross Street*: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 9th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Nagar 7th 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, making the total cost for these fees Rs 2,52,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Bakthavachalam Nagar 7th Street?

The Sub Registrar Office that covers Bakthavachalam Nagar 7th Street is 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 a crucial factor in the registration of property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the context of local regulations. It is essential for buyers to be aware of the guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar 7th Street?

The current guideline value of Bakthavachalam Nagar 7th 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 median guideline value in Thalakanancherry?

The median guideline value for streets in Thalakanancherry is Rs 3,900 per sq.ft, with Bakthavachalam Nagar 7th Street's value being below this median.

What are the stamp duty and registration fees for property in Bakthavachalam Nagar 7th Street?

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 7th Street?

The Alandur Sub Registrar Office handles registrations for Bakthavachalam Nagar 7th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.