Guideline Value for Bashiyam Nagar 1st Street

Bashiyam Nagar 1st Street guideline value

The current guideline value of Bashiyam Nagar 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, classified as Mixed Type - II.

How the guideline value of Bashiyam Nagar 1st Street has changed

The guideline value for Bashiyam Nagar 1st Street has seen several revisions over the years. The earliest recorded value was Rs 525 per sq.ft in 2007, which then increased significantly to Rs 3,500 per sq.ft in 2012. However, this value dropped to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 633%. There are no recorded figures for the years 2002 and 2003 in the register for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value of Bashiyam Nagar 1st Street is above this median.

• Bashiyam Nagar: Rs 3,850 per sq.ft (2024)
• Bashiyam Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Bashiyam Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Bangalamalai Street: Rs 1,650 per sq.ft (2024)
• Balaji Nagar 1,2,3,4: Rs 2,970 per sq.ft (2024)
• Balaji Nagar: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Bashiyam Nagar 1st 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 be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bashiyam Nagar 1st Street?

The Sub Registrar Office that covers Bashiyam Nagar 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bashiyam Nagar 1st Street?

The current guideline value of Bashiyam Nagar 1st 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 from Rs 525 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What is the stamp duty for property in Bashiyam Nagar 1st Street?

The stamp duty for property in Bashiyam Nagar 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find more information about the Sub Registrar Office?

The Pallavaram Sub Registrar Office covers Bashiyam Nagar 1st Street. It is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Bashiyam Nagar 1st Street?

Bashiyam Nagar 1st Street is classified as Mixed Type - II, which is relevant for understanding its usage and development potential.