Guideline Value for Bakthavachalam Nagar 9th Street

Bakthavachalam Nagar 9th Street guideline value

The current guideline value of Bakthavachalam Nagar 9th 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 9th Street has changed

Over the years, the guideline value of Bakthavachalam Nagar 9th Street has seen significant changes. The 2007 revision recorded a value of Rs 700 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2012 revision. However, this figure dropped to Rs 1,675 per sq.ft in 2017. Following this, the value rose to Rs 2,500 per sq.ft in 2023, and subsequently to the current value of Rs 2,800 per sq.ft in the 2024 revision. Notably, the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision shows a 12% increase. The value from 2012 to 2017 saw a decrease of 33%, while from 2007 to 2012, it increased by 257%. 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 have 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 9th Street is below this median.

• Bakthavachalam Nagar 9th Cross Street*: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar First High Road: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 8th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar Municipalty Employees colony: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 8th Cross street*: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar Municipalty Employees colony 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Nagar 9th Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is 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 fees together 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 9th Street?

The Bakthavachalam Nagar 9th Street falls under the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For further 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 when registering property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees are based on this value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar 9th Street?

The current guideline value of Bakthavachalam Nagar 9th 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, with various revisions in between showing fluctuations.

What is the land classification for Bakthavachalam Nagar 9th Street?

The land classification for Bakthavachalam Nagar 9th Street is Residential Class II Type - II.

Which Sub Registrar Office is responsible for this street?

The Alandur Sub Registrar Office is responsible for Bakthavachalam Nagar 9th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.