Guideline Value for Bakthavachalam Street

Bakthavachalam Street guideline value

The current guideline value of Bakthavachalam Street in Nasarathpettai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Poonamallee SRO and is classified as Residential Class I Type - I.

How the guideline value of Bakthavachalam Street has changed

The guideline value for Bakthavachalam Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,320 per sq.ft in the 2024 revision.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a substantial increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in the current guideline value of Rs 1,320 per sq.ft.

Guideline values in Nasarathpettai

Nasarathpettai has 19 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which is equal to the current guideline value of Bakthavachalam Street.

• Bangalore High Road: Rs 2,750 per sq.ft (2024)
• Bazaar street: Rs 3,300 per sq.ft (2024)
• Anbarasu Nagar: Rs 1,320 per sq.ft (2024)
• Chinna Chetty Street (A) Nehru Street: Rs 1,320 per sq.ft (2024)
• Golden Friends Smart City: Rs 2,200 per sq.ft (2024)
• Kakkila street: Rs 1,320 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. Duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthavachalam Street?

The Bakthavachalam Street falls under the jurisdiction of the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Nasarathpettai, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used to assess the official value of the property, which is necessary for legal documentation and taxation purposes.

It is essential to be aware that the guideline value may differ from the actual sale price. Therefore, the duty is charged based on the higher of the guideline value or the sale price, ensuring that the transaction is accurately recorded.

Frequently asked questions

What is the current guideline value of Bakthavachalam Street?

The current guideline value of Bakthavachalam Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the median guideline value in Nasarathpettai?

The median guideline value for the 19 streets in Nasarathpettai is Rs 1,320 per sq.ft, which is the same as the current guideline value for Bakthavachalam Street.

What are the stamp duty rates for properties in Bakthavachalam Street?

The stamp duty for properties in Bakthavachalam Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Bakthavachalam Street?

The Poonamallee Sub Registrar Office handles the registration for Bakthavachalam Street, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.