Guideline Value for Bakthavatchalam Street

Bakthavatchalam Street guideline value

The current guideline value of Bakthavatchalam Street in Kodungaiyur village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Bakthavatchalam Street has changed

The guideline value for Bakthavatchalam Street has undergone several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision saw an increase to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,700 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023. The guideline value has shown an overall increase of 8% from 2012 to 2024, with the recent change from 2023 to 2024 reflecting an increase of 8% as well.

Guideline values in Kodungaiyur

Kodungaiyur consists 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 aligns with the current value of Bakthavatchalam Street.

• Bakthavatchalam Street (Teacher's Colony): 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

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 to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthavatchalam Street?

The Bakthavatchalam Street falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to assess the applicable fees, ensuring that all transactions are conducted fairly and transparently. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bakthavatchalam Street?

The current guideline value of Bakthavatchalam Street 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 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Bakthavatchalam Street?

Bakthavatchalam Street is classified as 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 properties in Bakthavatchalam Street?

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