Guideline Value for Bakthavatsalam Street

Bakthavatsalam Street guideline value

The current guideline value of Bakthavatsalam Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Bakthavatsalam Street has changed

Over the years, the guideline value for Bakthavatsalam Street has seen several revisions. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the value was Rs 7,000 per sq.ft, which increased by 10% to Rs 7,700 per sq.ft in the 2024 revision.

This change reflects an increase from the previous year, marking a significant update in the guideline value. The 2024 figure is the most current and represents the latest assessment of property values in the area.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Bakthavatsalam Street's 2024 figure below this median.

• Bajooriars Street: Rs 7,700 per sq.ft (2024)
• Babu Street: Rs 7,700 per sq.ft (2024)
• Babu Lane: Rs 7,700 per sq.ft (2024)
• Ayya Street: Rs 7,700 per sq.ft (2024)
• Avvai Shanmugam Salai (Lloyds Road): Rs 13,200 per sq.ft (2024)
• Austin Nagar 2nd Street: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bakthavatsalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details on calculating these fees.

Which Sub Registrar Office covers Bakthavatsalam Street?

The Sub Registrar Office that covers Bakthavatsalam Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 1. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it's essential to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Buyers should ensure that they are informed about the guideline value to avoid any unexpected fees during the registration process.

Frequently asked questions

What is the current guideline value of Bakthavatsalam Street?

The current guideline value of Bakthavatsalam Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bakthavatsalam Street has changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft, which is higher than the current guideline value of Bakthavatsalam Street.

What are the stamp duty and registration fees for properties on Bakthavatsalam Street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Bakthavatsalam Street located?

The Sub Registrar Office for Bakthavatsalam Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, under the Chennai Central Joint I SRO.