Guideline Value for Bashiyam Reddy Street

Bashiyam Reddy Street guideline value

The current guideline value of Bashiyam Reddy Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bashiyam Reddy Street has changed

The guideline value of Bashiyam Reddy Street has seen several revisions over the years. The earliest recorded value in 2003 was Rs 465 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. Following this, the value rose significantly to Rs 2,500 per sq.ft in 2012, but then decreased to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002.

In terms of percentage changes, the value increased by 115% from 2003 to 2007, followed by a 150% increase from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and has seen an 8% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 481%.

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. The median guideline value for these streets is Rs 3,301 per sq.ft, indicating that Bashiyam Reddy Street's current value is below this median.

• Bashiyam Reddy Colony: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bashiyam Reddy Street?

The Sub Registrar Office that covers Bashiyam Reddy Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When buying or selling property, it is essential to understand that the guideline value will be used to calculate the fees, ensuring that both parties are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Bashiyam Reddy Street?

The current guideline value of Bashiyam Reddy Street 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 from Rs 465 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 481% over this period.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Which Sub Registrar Office covers Bashiyam Reddy Street?

Bashiyam Reddy Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value determined for properties in Peravallur?

The guideline value is determined by the Registration Department and is revised periodically. It reflects the market conditions and property classifications in the area.