Guideline Value for Bakthavathsalam Street

Bakthavathsalam Street guideline value

The current guideline value of Bakthavathsalam Street is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Irunkattukottai village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Bakthavathsalam Street has changed

Over the years, the guideline value for Bakthavathsalam Street has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the 2023 revision. However, from 2017, when the value was Rs 268 per sq.ft, there was a significant increase of 49% to reach Rs 400 per sq.ft in 2023. The register has no figures for the years 2002, 2003, and 2007.

In the latest 2024 revision, the guideline value remains at Rs 400 per sq.ft, showing no change from the previous year. Overall, from the 2012 revision to the 2024 revision, there has been no net change in the guideline value.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that have a guideline value for 2024, ranging from Rs 250 to Rs 1,250 per sq.ft. The median guideline value is Rs 400 per sq.ft, which aligns with the current value of Bakthavathsalam Street.

• Ashok Nagar: Rs 250 per sq.ft (2024)
• Bharathiyar Street: Rs 400 per sq.ft (2024)
• Anna Street: Rs 600 per sq.ft (2024)
• Anna Nagar: Rs 800 per sq.ft (2024)
• Anna Cross Street: Rs 600 per sq.ft (2024)
• Colony Bajanai Koil Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavathsalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. 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 Bakthavathsalam Street?

The Sub Registrar Office that covers Bakthavathsalam Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Irunkattukottai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value as it can affect the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Bakthavathsalam Street?

The current guideline value of Bakthavathsalam Street is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a notable increase from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What is the land classification of Bakthavathsalam Street?

Bakthavathsalam Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Bakthavathsalam Street?

The Sriperumpudur Sub Registrar Office handles registrations for Bakthavathsalam Street, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.