Guideline Value for Bakthavachalam Nagar South

Bakthavachalam Nagar South guideline value

The current guideline value of Bakthavachalam Nagar South is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of Bakthavachalam Nagar South has changed

The guideline value for Bakthavachalam Nagar South has undergone several revisions over the years. The 2007 revision set the value at Rs 750 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 2,800 per sq.ft, marking a 12% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 273%. Notably, 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, with 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 Bakthavachalam Nagar South's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Bakthavachalam Nagar South

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 for these fees 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.

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

Which Sub Registrar Office covers Bakthavachalam Nagar South?

The Sub Registrar Office that covers Bakthavachalam Nagar South 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 in Thalakanancherry. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs reflect the property's assessed value.

When buying or selling property, the guideline value helps to establish a fair price for transactions and is used by the registration department to determine the applicable fees. This ensures transparency and consistency in property dealings within the area.

Frequently asked questions

What is the current guideline value of Bakthavachalam Nagar South?

The current guideline value of Bakthavachalam Nagar South 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 seen several revisions, increasing from Rs 750 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, which is an overall increase of 273% since 2007.

What is the land classification of Bakthavachalam Nagar South?

Bakthavachalam Nagar South is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Bakthavachalam Nagar South?

The Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, covers Bakthavachalam Nagar South.

How is the stamp duty calculated for properties in Bakthavachalam Nagar South?

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