Guideline Value for Bakthavatchalam Street (Teacher's Colony)

Bakthavatchalam Street (Teacher's Colony) guideline value

The current guideline value of Bakthavatchalam Street (Teacher's Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bakthavatchalam Street (Teacher's Colony) has changed

The guideline value for Bakthavatchalam Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft, which then dropped to Rs 1,675 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value rebounded significantly in the 2023 revision to Rs 2,500 per sq.ft, and further increased to Rs 2,700 per sq.ft in the 2024 revision, representing an 8% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the current value for Bakthavatchalam Street.

• Bakthavatchalam Street: Rs 2,700 per sq.ft (2024)
• Balaji Nagar: Rs 2,700 per sq.ft (2024)
• Balaji Nagar Extension: Rs 2,700 per sq.ft (2024)
• Balaji Nagar Extension (Koyyathoppu): Rs 2,200 per sq.ft (2024)
• Balaji Nagar (Goyathoppu): Rs 2,700 per sq.ft (2024)
• Balaji Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavatchalam Street (Teacher's Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bakthavatchalam Street (Teacher's Colony)?

The Bakthavatchalam Street (Teacher's Colony) falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It determines the base value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers, helping to establish a fair price for the transaction. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Bakthavatchalam Street?

The current guideline value of Bakthavatchalam Street (Teacher's Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. It was Rs 1,675 per sq.ft in 2017, showing a significant rise of 49% to 2023.

What is the land classification for Bakthavatchalam Street?

The land classification for Bakthavatchalam Street (Teacher's Colony) is Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for property in Bakthavatchalam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.