Guideline Value for Bakthavachalam Nagar Municipalty Employees colony

Bakthavachalam Nagar Municipalty Employees colony guideline value

The current guideline value of Bakthavachalam Nagar Municipalty Employees colony is Rs 2,800 per sq.ft, effective from 1 July 2024. This area 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 has changed

The guideline value for Bakthavachalam Nagar Municipalty Employees colony has undergone several revisions over the years. In 2007, the value was set at Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 257%. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The 2017 revision remained at Rs 1,675 per sq.ft until the next revision in 2023, which saw a substantial increase to Rs 2,500 per sq.ft, reflecting a growth of 49%. The most recent revision in 2024 raised the guideline value to Rs 2,800 per sq.ft, an increase of 12% from the previous year.

It is important to note that the register has no figures 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. The median value for these streets is Rs 3,900 per sq.ft, indicating that the guideline value for Bakthavachalam Nagar Municipalty Employees colony is below this median.

• Bakthavachalam Nagar First High Road: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar Municipalty Employees colony 1st Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 9th Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar Municipalty Employees colony 2nd Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar 9th Cross Street*: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar Municipalty Employees colony 3rd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Nagar Municipalty Employees colony

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, while the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bakthavachalam Nagar Municipalty Employees colony?

The Bakthavachalam Nagar Municipalty Employees colony 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 crucial factor in the registration process when buying or selling property in Thalakanancherry. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When a property is sold, the guideline value serves as a reference point for calculating stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications associated with the transaction.

Frequently asked questions

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

The current guideline value of Bakthavachalam Nagar Municipalty Employees colony 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 is the land classification of Bakthavachalam Nagar Municipalty Employees colony?

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

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 28,00,000, leading to a total fee of Rs 2,52,000.