Guideline Value for Bakthavachalam Nagar 8th Street

Bakthavachalam Nagar 8th Street guideline value

The current guideline value of Bakthavachalam Nagar 8th 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 8th Street has changed

The guideline value for Bakthavachalam Nagar 8th Street has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 257%. However, the value then dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 saw a substantial increase to Rs 2,500 per sq.ft, followed by the current value of Rs 2,800 per sq.ft in 2024, reflecting a 12% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a remarkable increase of 300%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

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 8th Street is below this median.

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

Stamp duty and registration fee for property in Bakthavachalam Nagar 8th 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, totaling Rs 2,52,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthavachalam Nagar 8th Street?

The Bakthavachalam Nagar 8th 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 details.

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

The guideline value plays a crucial role when buying or selling property in Thalakanancherry. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the duty is applied to the higher amount.

Understanding the guideline value is essential for both buyers and sellers as it ensures compliance with local regulations and helps in calculating the costs involved in property transactions. It is advisable to check the latest guideline values before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar 8th Street?

The current guideline value of Bakthavachalam Nagar 8th 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 are the stamp duty and registration fees for property transactions?

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 property registrations for Bakthavachalam Nagar 8th Street?

The Alandur Sub Registrar Office handles property registrations for Bakthavachalam Nagar 8th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the significance of the guideline value?

The guideline value is significant as it determines the stamp duty and registration fees payable during property transactions. It ensures compliance with local regulations and helps buyers and sellers understand the costs involved in property dealings.