Guideline Value for Bakyalakshmi St

Bakyalakshmi St guideline value

The current guideline value of Bakyalakshmi St in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Bakyalakshmi St has changed

Over the years, the guideline value of Bakyalakshmi St has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, marking a 10% rise from the previous year.

In summary, the guideline value has changed as follows: from 2012 to 2017, it decreased by 33%, then increased by 49% from 2017 to 2023, and finally rose by 10% from 2023 to 2024. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Bakyalakshmi St.

• Bakyalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Balaji Avenue 1: Rs 2,750 per sq.ft (2024)
• Balaji Avenue 2: Rs 2,750 per sq.ft (2024)
• Balaji Avenue 3: Rs 2,750 per sq.ft (2024)
• Balaji Avenue Extn: Rs 1,650 per sq.ft (2024)
• Balaji Avenue Ist Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Bakyalakshmi St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bakyalakshmi St?

The Bakyalakshmi St falls under the Tambaram Joint 1 Sub Registrar Office located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Chitlapakkam. It serves as the basis for calculating the stamp duty and registration fees that buyers and sellers must pay during the transaction process.

When a property is sold, the guideline value ensures that the government receives appropriate revenue from property transactions. Buyers should be aware that the guideline value may differ from the sale price, and the higher of the two will be used to calculate the applicable fees.

Frequently asked questions

What is the current guideline value of Bakyalakshmi St?

The current guideline value of Bakyalakshmi St is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Bakyalakshmi St?

Bakyalakshmi St is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for properties in Bakyalakshmi St?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000. The stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office handles transactions for Bakyalakshmi St?

The Tambaram Joint 1 Sub Registrar Office at No.26, Mes Road, East Tambaram, Chennai-600059, covers Bakyalakshmi St.