Guideline Value for Bakthavachalam Street

Bakthavachalam Street guideline value

The current guideline value of Bakthavachalam Street is Rs 2,310 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bakthavachalam Street has changed

The guideline value for Bakthavachalam Street has seen several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 2,100 per sq.ft in 2012, marking a rise of 740%. However, from 2012 to 2017, the value decreased to Rs 1,407 per sq.ft, a decline of 33%. The subsequent revisions saw a considerable increase, with the value rising to Rs 2,100 per sq.ft in 2023 and then to Rs 2,310 per sq.ft in 2024, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 824%. It is important to note that there are no figures available for Bakthavachalam Street for the years 2002 and 2003 in the register.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, which is the same as the current value for Bakthavachalam Street.

• Balaji Apartments: Rs 2,310 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,650 per sq.ft (2024)
• Balaji Nagar: Rs 2,310 per sq.ft (2024)
• Azagiri Nagar: Rs 2,640 per sq.ft (2024)
• Avvai Street: Rs 1,980 per sq.ft (2024)
• Ashtalaxmi Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bakthavachalam Street?

The Sub Registrar Office that covers Bakthavachalam Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Perungalathur, as it is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives the correct revenue from property transactions. It is essential for buyers and sellers to be aware of the guideline values to accurately calculate their costs during the registration process.

Frequently asked questions

What is the current guideline value of Bakthavachalam Street?

The current guideline value of Bakthavachalam Street is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, marking an overall increase of 824% over this period.

What is the land classification for Bakthavachalam Street?

Bakthavachalam Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the registration office for Bakthavachalam Street?

The registration office for Bakthavachalam Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Bakthavachalam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 23,10,000, leading to a stamp duty of Rs 1,61,700.