Guideline Value for Bakthavatchalu Nagar (Kuthira Kuthi Thazai)

Bakthavatchalu Nagar (Kuthira Kuthi Thazai) guideline value

The current guideline value for Bakthavatchalu Nagar (Kuthira Kuthi Thazai) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bakthavatchalu Nagar (Kuthira Kuthi Thazai) has changed

The guideline value for Bakthavatchalu Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft. In 2023, the value increased to Rs 1,200 per sq.ft, followed by a further increase to Rs 1,300 per sq.ft in 2024, marking an 8% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the 2012 to 2017 period experienced a decline of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Bakthavatchalu Nagar is below this median.

• Bakvatchalam Nagar Rd ( Ward No.1 ): Rs 1,300 per sq.ft (2024)
• Bajani Koil Street: Rs 1,300 per sq.ft (2024)
• Bajanai Koil St ( Ward No.9 ): Rs 1,300 per sq.ft (2024)
• Bajanai koil St ( Ward No.31 ): Rs 1,300 per sq.ft (2024)
• Bajanai Koil St ( Ward No.29 ): Rs 1,300 per sq.ft (2024)
• Bajanai Koil St ( Ward No.23 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavatchalu Nagar (Kuthira Kuthi Thazai)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, together totaling Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakthavatchalu Nagar (Kuthira Kuthi Thazai)?

The Sub Registrar Office that covers Bakthavatchalu Nagar (Kuthira Kuthi Thazai) is 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 Madhavaram

The guideline value is a critical factor in property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly affects the stamp duty and registration fees payable at the time of registration.

When registering a property, the guideline value helps ensure transparency and fairness in the transaction process. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Bakthavatchalu Nagar?

The current guideline value of Bakthavatchalu Nagar (Kuthira Kuthi Thazai) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with significant revisions in 2012, 2017, 2023, and 2024. Notably, it decreased from Rs 1,200 in 2012 to Rs 804 in 2017, then increased to Rs 1,200 in 2023, and finally to Rs 1,300 in 2024.

What is the land classification for Bakthavatchalu Nagar?

Bakthavatchalu Nagar (Kuthira Kuthi Thazai) is classified as Residential Class III Type - I. This classification indicates the type of development and usage permitted in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations for the area.

How is stamp duty calculated for properties in Bakthavatchalu Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.