Guideline Value for Bashiyam Nagar

Bashiyam Nagar guideline value

The current guideline value of Bashiyam Nagar in Hastinapuram village is Rs 3,850 per sq.ft, as per the 2024 revision effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Mixed Type - II land.

How the guideline value of Bashiyam Nagar has changed

Over the years, the guideline value of Bashiyam Nagar has seen significant changes. The 2007 revision recorded a value of Rs 525 per sq.ft, which increased remarkably to Rs 3,500 per sq.ft in 2012, marking a substantial rise of 567%. However, this value then decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revisions saw an increase, with the 2023 revision set at Rs 3,500 per sq.ft, and the current 2024 revision at Rs 3,850 per sq.ft, indicating a rise of 10% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been an impressive increase of 633%. It is important to note that the register has no figures for the years 2002 and 2003 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. Bashiyam Nagar's 2024 guideline value is above this median, reflecting its positioning in the local market.

• Bashiyam Nagar 1st Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to 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, bringing the total cost for these fees 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bashiyam Nagar?

Bashiyam Nagar is covered by 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 serves as a benchmark for property transactions in Hastinapuram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on an official valuation rather than the negotiated sale price.

This ensures transparency and consistency in property transactions, as the guideline value reflects the government’s assessment of land value in the area. Buyers and sellers should be aware of these values to avoid unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Bashiyam Nagar?

The current guideline value of Bashiyam Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 525 per sq.ft to Rs 3,850 per sq.ft in 2024, representing a total increase of 633% over this period.

What is the land classification of Bashiyam Nagar?

Bashiyam Nagar is classified as Mixed Type - II land, which indicates a blend of different land uses in the area.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for property in Bashiyam Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.