Guideline Value for Bashiyam Nagar 2nd Street

Bashiyam Nagar 2nd Street guideline value

The current guideline value of Bashiyam Nagar 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, and the land classification is Mixed Type - II.

How the guideline value of Bashiyam Nagar 2nd Street has changed

The guideline value for Bashiyam Nagar 2nd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 525 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this value saw a decrease 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 2024 revision raised it to Rs 3,850 per sq.ft.

Between the revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 567%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Hastinapuram

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

• Bashiyam Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Bashiyam Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Bashiyam Nagar: 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 2nd 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, while the registration fee at 2% would be Rs 77,000. Together, these fees would total 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bashiyam Nagar 2nd Street?

The Sub Registrar Office that covers Bashiyam Nagar 2nd 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 details.

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

The guideline value plays a crucial role during 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 to the government.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bashiyam Nagar 2nd Street?

The current guideline value of Bashiyam Nagar 2nd 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 525 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 633% over this period.

What is the stamp duty for property in Bashiyam Nagar 2nd Street?

The stamp duty for property in Bashiyam Nagar 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Pallavaram Sub Registrar Office covers Bashiyam Nagar 2nd Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the guideline values of other streets in Hastinapuram?

Other streets in Hastinapuram have varying guideline values, with Bashiyam Nagar 1st Street, 3rd Street, and Bashiyam Nagar all at Rs 3,850 per sq.ft in 2024, while Bangalamalai Street is at Rs 1,650 per sq.ft.