Guideline Value for Bashiyam Reddy Colony

Bashiyam Reddy Colony guideline value

The current guideline value for Bashiyam Reddy Colony in Peravallur village is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Sembiam SRO and is classified as Residential Class I Type - I.

How the guideline value of Bashiyam Reddy Colony has changed

Since the 2002 revision, the guideline value for Bashiyam Reddy Colony has seen significant changes. In 2002, the value was Rs 427 per sq.ft, which increased to Rs 465 per sq.ft in 2003. Following this, the value jumped to Rs 1,000 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017, before rising again to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,700 per sq.ft in 2024.

The changes between revisions are noteworthy. From 2002 to 2003, the increase was +9%. The value saw a significant rise of +115% from 2003 to 2007. There was a substantial increase of +150% from 2007 to 2012, but a decrease of -33% occurred from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and finally, there was an increase of +8% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +532%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. Bashiyam Reddy Colony's 2024 figure is below this median.

• Bashiyam Reddy Street: Rs 2,700 per sq.ft (2024)
• Bashyam Street: Rs 2,700 per sq.ft (2024)
• Balvargise Street: Rs 2,700 per sq.ft (2024)
• Balvargise Colony: Rs 2,700 per sq.ft (2024)
• Ballard Street: Rs 2,700 per sq.ft (2024)
• Balasubramaniyan Salai: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bashiyam Reddy Colony

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bashiyam Reddy Colony?

The Bashiyam Reddy Colony is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Peravallur. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is bought or sold, the guideline value helps in assessing the transaction's legitimacy. It ensures that the property is not undervalued for registration purposes, thereby maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Bashiyam Reddy Colony?

The current guideline value of Bashiyam Reddy Colony is Rs 2,700 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 427 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +532% over this period.

What is the land classification for Bashiyam Reddy Colony?

Bashiyam Reddy Colony is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Bashiyam Reddy Colony?

Stamp duty for properties in Bashiyam Reddy Colony is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at a rate of 7%.