Guideline Value for Bakthavatchalam Street (W.M)

Bakthavatchalam Street (W.M) guideline value

The current guideline value of Bakthavatchalam Street (W.M) is Rs 7,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Bakthavatchalam Street (W.M) has changed

Over the years, the guideline value of Bakthavatchalam Street (W.M) has seen significant changes. The 2007 revision recorded a value of Rs 2,500 per sq.ft, which increased to Rs 6,500 per sq.ft in the 2012 revision, marking a rise of 160%. However, this value dropped to Rs 4,355 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision saw a substantial increase to Rs 6,500 per sq.ft, and the most recent 2024 revision has further raised it to Rs 7,000 per sq.ft, reflecting an increase of 8% from the previous year.

It is important to note that the register has no figures for Bakthavatchalam Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 180%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Bakthavatchalam Street (W.M) above this median.

• Bajanai Koil Street (Block 8): Rs 5,500 per sq.ft (2024)
• Bajanai Koil 2nd Street Block 9: Rs 5,500 per sq.ft (2024)
• Bajanai Koil 1st Street Block 8 (V.P): Rs 5,500 per sq.ft (2024)
• Babu Rajendra Prasad Street: Rs 4,400 per sq.ft (2024)
• Babu Rajendra Prasad 2nd Street: Rs 4,400 per sq.ft (2024)
• Babu Rajendra Prasad 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavatchalam Street (W.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value would be Rs 70,00,000. The stamp duty at 7% would amount to Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, bringing the total fees to Rs 6,30,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bakthavatchalam Street (W.M)?

The Sub Registrar Office that covers Bakthavatchalam Street (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of properties in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is in compliance with the legal requirements set by the government.

When buying or selling property, the guideline value serves as a benchmark for the minimum price at which a property can be registered. This helps in maintaining transparency and preventing undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Bakthavatchalam Street (W.M)?

The current guideline value of Bakthavatchalam Street (W.M) is Rs 7,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,500 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, reflecting an overall increase of 180% over this period.

What is the land classification for Bakthavatchalam Street (W.M)?

The land classification for Bakthavatchalam Street (W.M) is Residential Special Type - III.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Bakthavatchalam Street (W.M)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 70,00,000, the stamp duty would be Rs 4,90,000 at a rate of 7%.