Guideline Value for Bashiyam Layout Cross Street

Bashiyam Layout Cross Street guideline value

The current guideline value of Bashiyam Layout Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Bashiyam Layout Cross Street has changed

The guideline value for Bashiyam Layout Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft. This increased to Rs 3,500 per sq.ft in 2012, marking a rise of 94%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, which is a decline of 33%. The value then rose significantly to Rs 3,500 per sq.ft in 2023, an increase of 49%. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 114%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Bashiyam Layout Cross Street's 2024 figure is below this median.

• Bashiyam colony 3rd sheeet: Rs 3,850 per sq.ft (2024)
• Bashiyam Layout Main Road: Rs 3,850 per sq.ft (2024)
• Bashiyam colony 2nd Street: Rs 3,850 per sq.ft (2024)
• Bashiyam nagar: Rs 3,850 per sq.ft (2024)
• Bashiyam colony 1st street: Rs 3,850 per sq.ft (2024)
• Bashiyam colony: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Bashiyam Layout Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bashiyam Layout Cross Street?

The Bashiyam Layout Cross Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

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 and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bashiyam Layout Cross Street?

The current guideline value of Bashiyam Layout Cross Street is Rs 3,850 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 1,800 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 114% during this period.

What are the stamp duty and registration fees for properties in Bashiyam Layout Cross Street?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 38,50,000, the total fees would amount to Rs 3,46,500.

Which office handles the registration for Bashiyam Layout Cross Street?

The Velacheri Sub Registrar Office handles the registration for Bashiyam Layout Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Bashiyam Layout Cross Street?

The land classification for Bashiyam Layout Cross Street is Residential Class II Type - III, indicating its suitability for residential development.