Guideline Value for Bakthavachalam Nagar South 2nd Street

Bakthavachalam Nagar South 2nd Street guideline value

The current guideline value of Bakthavachalam Nagar South 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 South 2nd Street has changed

The guideline value for Bakthavachalam Nagar South 2nd Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which was a decrease of 33% from the previous 2012 revision of Rs 2,500 per sq.ft. The 2023 revision saw a significant increase, raising the value to Rs 2,500 per sq.ft, which marked a 49% increase from 2017. The most recent revision in 2024 brought the guideline value to Rs 2,800 per sq.ft, reflecting a 12% increase from 2023.

It is important to note that there are no figures available for Bakthavachalam Nagar South 2nd Street for the years 2002 and 2003. The 2007 revision set the value at Rs 1,700 per sq.ft, which was an increase of 47% from the 2002 figure, but the exact value for that year is not recorded. Overall, from 2007 to 2024, the guideline value has increased by 65%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Bakthavachalam Nagar South 2nd Street's 2024 value below this median.

• Bakthavachalam Nagar South 1st Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar South 3rd Street: Rs 2,800 per sq.ft (2024)
• Bakthavachalam Nagar South: 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 2nd 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 South 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 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 duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthavachalam Nagar South 2nd Street?

The Sub Registrar Office that covers Bakthavachalam Nagar South 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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 serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the authorities will assess the guideline value to ensure that the appropriate fees are collected. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar South 2nd Street?

The current guideline value of Bakthavachalam Nagar South 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 changed from Rs 1,675 per sq.ft in 2017 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 65% since 2007.

What is the land classification for this street?

Bakthavachalam Nagar South 2nd Street is classified as Residential Class II Type - II.

Which office handles registrations for this area?

The Alandur Sub Registrar Office handles registrations for Bakthavachalam Nagar South 2nd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in this area?

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