Guideline Value for Bashiyakkara Naidu Street

Bashiyakkara Naidu Street guideline value

The current guideline value of Bashiyakkara Naidu Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO and is classified as Residential Special Type - II.

How the guideline value of Bashiyakkara Naidu Street has changed

The guideline value for Bashiyakkara Naidu Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,700 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 3,350 per sq.ft before rising again to Rs 5,000 per sq.ft in 2023. The most recent revision in 2024 has increased the guideline value to Rs 5,500 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2012, the value saw a remarkable increase of 194%, but then it decreased by 33% from 2012 to 2017. The value surged by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, the guideline value has risen by 224% from 2007 to 2024.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values for 2024 ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Bashiyakkara Naidu Street's 2024 figure above the median.

• Barracks Road (Anjaneyar Koil Street): Rs 4,900 per sq.ft (2024)
• Barracks 2nd Lane: Rs 4,900 per sq.ft (2024)
• Barracks 1st Lane: Rs 4,900 per sq.ft (2024)
• Basin Bridge Road: Rs 6,000 per sq.ft (2024)
• Basin Street: Rs 6,000 per sq.ft (2024)
• Basin Water Works Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Bashiyakkara Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the 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 Bashiyakkara Naidu Street?

The Sub Registrar Office that covers Bashiyakkara Naidu Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller engages in a transaction, the guideline value is assessed to ensure that the appropriate fees are calculated based on the higher of the guideline value or the sale price. This ensures transparency and compliance with regulatory requirements.

Frequently asked questions

What is the current guideline value of Bashiyakkara Naidu Street?

The current guideline value of Bashiyakkara Naidu Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,700 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 224% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Bashiyakkara Naidu Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in Bashiyakkara Naidu Street?

The stamp duty for a property valued at Rs 55,00,000 would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for Bashiyakkara Naidu Street?

The Sowcarpet Sub Registrar Office at No.11, Davidson Street, Sowcarpet, Chennai-01 handles registrations for Bashiyakkara Naidu Street.