Guideline Value for Bakyam Nagar

Bakyam Nagar guideline value

The current guideline value of Bakyam Nagar, located in Chikkarayapuram village under the Kunrathur SRO, is Rs 1,760 per sq.ft. This guideline value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Bakyam Nagar has changed

Over the years, the guideline value of Bakyam Nagar has seen several revisions. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,072 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,600 per sq.ft. The latest revision in 2024 reflects a further increase of 10%, resulting in the current value of Rs 1,760 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,430 to Rs 2,800 per sq.ft, with a median value of Rs 1,980 per sq.ft. Bakyam Nagar's current guideline value of Rs 1,760 per sq.ft is below this median.

• Balaji Avenue: Rs 1,760 per sq.ft (2024)
• Balaji Nagar: Rs 1,980 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,980 per sq.ft (2024)
• Babu Garden Phase II&III: Rs 1,980 per sq.ft (2024)
• Balasubramanian Nagar: Rs 1,870 per sq.ft (2024)
• Anu Garden: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Bakyam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total cost for these charges Rs 1,58,400. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bakyam Nagar?

The Sub Registrar Office that covers Bakyam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Chikkarayapuram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both parties. It helps in establishing a fair price for the transaction, as the stamp duty is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Bakyam Nagar?

The current guideline value of Bakyam Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value of Bakyam Nagar changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the median guideline value in Chikkarayapuram?

The median guideline value in Chikkarayapuram is Rs 1,980 per sq.ft, with Bakyam Nagar's current value being below this median.

What are the stamp duty and registration fees for property in Bakyam Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fee would be Rs 1,58,400.

Which office handles property registrations for Bakyam Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Bakyam Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.