Guideline Value for Bakthavachalam Nagar 8th Cross street*

Bakthavachalam Nagar 8th Cross street* guideline value

The current guideline value of Bakthavachalam Nagar 8th Cross 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 8th Cross street* has changed

The guideline value for Bakthavachalam Nagar 8th Cross street* has seen several revisions over the years. In 2007, the guideline 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, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The value then increased again to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,800 per sq.ft in 2024, reflecting a 12% increase from the previous year.

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

Guideline values in Thalakanancherry

Within Thalakanancherry village, 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 of Bakthavachalam Nagar 8th Cross street* is below this median.

• Bakthavachalam Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 8th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 9th Cross Street*: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 7th Cross Street*: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 9th 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 8th 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, making a total of Rs 2,52,000. Please 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 information.

Which Sub Registrar Office covers Bakthavachalam Nagar 8th Cross street*?

The Bakthavachalam Nagar 8th Cross street* falls under the jurisdiction of 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 additional assistance.

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

The guideline value plays a crucial role in the registration process 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 transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the transfer of ownership. Buyers should 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 8th Cross street*?

The current guideline value of Bakthavachalam Nagar 8th 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 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 are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 28,00,000, the total fees would be Rs 2,52,000.

Which office handles the registration for Bakthavachalam Nagar 8th Cross street*?

The Alandur Sub Registrar Office handles the registration for Bakthavachalam Nagar 8th Cross street*, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Bakthavachalam Nagar 8th Cross street*?

Bakthavachalam Nagar 8th Cross street* is classified as Residential Class II Type - II, indicating its suitability for residential development.