Guideline Value for Bakthavachalam Nagar Municipalty Employees colony 2nd Street

Bakthavachalam Nagar Municipalty Employees colony 2nd Street guideline value

The current guideline value of Bakthavachalam Nagar Municipalty Employees colony 2nd 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 Municipalty Employees colony 2nd Street has changed

The guideline value for Bakthavachalam Nagar Municipalty Employees colony 2nd Street has undergone several revisions since 2007. 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 257% rise. However, it saw a decrease to Rs 1,675 per sq.ft in 2017, reflecting a 33% drop. The value then rose again to Rs 2,500 per sq.ft in 2023, and finally, it has reached Rs 2,800 per sq.ft in the 2024 revision, which is a 12% increase from the previous year.

It is important to note that 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 2024 guideline values 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, indicating that the guideline value for Bakthavachalam Nagar Municipalty Employees colony 2nd Street is below this median.

• Bakthavachalam Nagar Municipalty Employees colony 1st Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar Municipalty Employees colony 3rd Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar Municipalty Employees colony: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar South: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar First High Road: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar South 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Nagar Municipalty Employees colony 2nd 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, bringing the total cost 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 accurate calculations.

Which Sub Registrar Office covers Bakthavachalam Nagar Municipalty Employees colony 2nd Street?

The Sub Registrar Office that covers Bakthavachalam Nagar Municipalty Employees colony 2nd Street is 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 information.

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 appropriate stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are conducted in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar Municipalty Employees colony 2nd Street?

The current guideline value of Bakthavachalam Nagar Municipalty Employees colony 2nd 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 increased from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, representing a total increase of 300% over this period.

What is the land classification for this area?

The land classification for Bakthavachalam Nagar Municipalty Employees colony 2nd Street is Residential Class II Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Bakthavachalam Nagar Municipalty Employees colony 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.