Guideline Value for Bakvatchalam Nagar Rd ( Ward No.1 )

Bakvatchalam Nagar Rd ( Ward No.1 ) guideline value

The current guideline value for Bakvatchalam Nagar Rd ( Ward No.1 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This road is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bakvatchalam Nagar Rd ( Ward No.1 ) has changed

The guideline value for Bakvatchalam Nagar Rd has undergone several revisions over the years. The earliest available figure is from 2012, where it was set at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. In 2023, the value increased to Rs 1,200 per sq.ft, and the latest revision in 2024 raised it to Rs 1,300 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The most recent change from 2023 to 2024 reflects an increase of 8%. Overall, the guideline value has increased by 8% from 2012 to 2024.

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. The median value for these streets is Rs 1,600 per sq.ft, indicating that Bakvatchalam Nagar Rd's 2024 figure is below this median.

• Bakthavatchalu Nagar (Kuthira Kuthi Thazai): Rs 1,300 per sq.ft (2024)
• Balaji Avenue: 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)

Stamp duty and registration fee for property in Bakvatchalam Nagar Rd ( Ward No.1 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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.

Which Sub Registrar Office covers Bakvatchalam Nagar Rd ( Ward No.1 )?

The Sub Registrar Office that covers Bakvatchalam Nagar Rd ( Ward No.1 ) 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 an essential factor in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects a fair value for the property being transferred.

Frequently asked questions

What is the current guideline value for Bakvatchalam Nagar Rd ( Ward No.1 )?

The current guideline value for Bakvatchalam Nagar Rd ( Ward No.1 ) 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 from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Bakvatchalam Nagar Rd ( Ward No.1 )?

Bakvatchalam Nagar Rd ( Ward No.1 ) is classified as Residential Class III Type - I.

What are the stamp duty rates for property in Bakvatchalam Nagar Rd?

The stamp duty for property in Bakvatchalam Nagar Rd is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.