Guideline Value for Bakthavatchalam Street

Bakthavatchalam Street guideline value

The current guideline value of Bakthavatchalam Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Bakthavatchalam Street has changed

Starting from the earliest revision in 2002, the guideline value for Bakthavatchalam Street was Rs 556 per sq.ft. This figure saw a significant increase in the following years, with the 2003 revision showing a rise to Rs 1,000 per sq.ft, marking an increase of 80%. The 2007 revision further escalated the value to Rs 2,500 per sq.ft, reflecting a 150% increase from the previous year.

The 2012 revision recorded a guideline value of Rs 6,000 per sq.ft, which was a decrease of 33% from the 2007 figure. In 2017, the value rose again to Rs 4,020 per sq.ft, marking a 49% increase. The 2023 revision set the value at Rs 6,000 per sq.ft. Finally, the most recent 2024 revision has established the current guideline value at Rs 6,600 per sq.ft, which is a 10% increase from the previous year.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Bakthavatchalam Street's 2024 figure above that median.

• Bajanai Koil Street (Near mudichur road ward-31): Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street (Near Gandhi road Ward-1): Rs 2,200 per sq.ft (2024)
• Bajanai Koil Street (Kannadapalayam): Rs 1,320 per sq.ft (2024)
• Balaji Nagar Annex: Rs 2,200 per sq.ft (2024)
• Balaji Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Balakrishna Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavatchalam Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, resulting in a total of Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Bakthavatchalam Street?

The Sub Registrar Office that covers Bakthavatchalam Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Tambaram. It is used as a benchmark for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bakthavatchalam Street?

The current guideline value of Bakthavatchalam Street is Rs 6,600 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 556 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 1087% over the years.

What is the land classification for Bakthavatchalam Street?

The land classification for Bakthavatchalam Street is Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the registration fees for property in Bakthavatchalam Street?

The registration fees for property transactions in Bakthavatchalam Street include a stamp duty of 7% and a registration fee of 2%, calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Bakthavatchalam Street located?

The Sub Registrar Office for Bakthavatchalam Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.