Guideline Value for Bakthavachalam Nagar Municipalty Employees colony 3rd Street

Bakthavachalam Nagar Municipalty Employees colony 3rd Street guideline value

The current guideline value of Bakthavachalam Nagar Municipalty Employees colony 3rd 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 Municipalty Employees colony 3rd Street has changed

The guideline value for Bakthavachalam Nagar Municipalty Employees colony 3rd Street has undergone several revisions over the years. The earliest available revision is from 2007, where the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, but then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value rose to Rs 2,500 per sq.ft in 2023, and most recently, it has been set at Rs 2,800 per sq.ft in 2024, marking a 12% increase from the previous year.

In summary, from 2007 to 2024, the guideline value has increased by 300%. The changes between the revisions are as follows: from 2007 to 2012, there was a 257% increase, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, a 12% increase from 2023 to 2024. There are no figures available for the revisions in 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 Municipalty Employees colony 3rd Street is below this median.

• Bakthavachalam Nagar Municipalty Employees colony 2nd Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar South: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar Municipalty Employees colony 1st Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar South 1st Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar Municipalty Employees colony: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar South 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Nagar Municipalty Employees colony 3rd 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, totaling 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.

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

Which Sub Registrar Office covers Bakthavachalam Nagar Municipalty Employees colony 3rd Street?

The Bakthavachalam Nagar Municipalty Employees colony 3rd 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 more information.

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

The guideline value is a critical factor when registering property transactions in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared with the actual sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar Municipalty Employees colony 3rd Street?

The current guideline value of Bakthavachalam Nagar Municipalty Employees colony 3rd 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 the years.

What is the land classification for Bakthavachalam Nagar Municipalty Employees colony 3rd Street?

The land classification for Bakthavachalam Nagar Municipalty Employees colony 3rd Street is Residential Class II Type - II.

What are the stamp duty and registration fees for property in this area?

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 this street?

The Alandur Sub Registrar Office handles registrations for Bakthavachalam Nagar Municipalty Employees colony 3rd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.