Guideline Value for Bakthavachalam Nagar South 3rd Street

Bakthavachalam Nagar South 3rd Street guideline value

The current guideline value of Bakthavachalam Nagar South 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 falls under the Residential Class II Type - II land classification.

How the guideline value of Bakthavachalam Nagar South 3rd Street has changed

The guideline value for Bakthavachalam Nagar South 3rd Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,700 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision saw a significant increase to Rs 2,500 per sq.ft, followed by the current value of Rs 2,800 per sq.ft from the 2024 revision, marking a 12% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 65%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Thalakanancherry

In Thalakanancherry village, 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 guideline value for these streets is Rs 3,900 per sq.ft, placing Bakthavachalam Nagar South 3rd Street's 2024 figure below that median.

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

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

Which Sub Registrar Office covers Bakthavachalam Nagar South 3rd Street?

The Bakthavachalam Nagar South 3rd Street falls under 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 in the registration process when buying or selling property in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar South 3rd Street?

The current guideline value of Bakthavachalam Nagar South 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 changed from Rs 1,700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024. The most significant increase occurred between the 2023 and 2024 revisions, with a rise of 12%.

What is the land classification for Bakthavachalam Nagar South 3rd Street?

Bakthavachalam Nagar South 3rd Street is classified as Residential Class II Type - II. This classification affects the guideline value and the regulations governing property transactions in the area.

What are the other streets in Thalakanancherry with the same guideline value?

Other streets in Thalakanancherry that share the same guideline value of Rs 2,800 per sq.ft include Bakthavachalam Nagar South 1st Street, Bakthavachalam Nagar South 2nd Street, and several streets in the Bakthavachalam Nagar Municipalty Employees colony.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. This office handles the registration of properties in the Bakthavachalam Nagar South 3rd Street area.