Guideline Value for Bashiyam colony : -

Bashiyam colony : - guideline value

The current guideline value for Bashiyam colony : - is Rs 3,850 per sq.ft, effective from 1 July 2024. This property is located in Velachery village, under the Velacheri SRO and is classified as Residential Class II Type - III.

How the guideline value of Bashiyam colony : - has changed

The guideline value for Bashiyam colony : - has seen several revisions over the years. The oldest recorded revision is from 2007, with a guideline value of Rs 1,800 per sq.ft. This increased to Rs 3,500 per sq.ft in 2012, marking a significant rise of 94%. However, in 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. The guideline value then rose to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 114%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Bashiyam colony : - is below this median.

• Bashiyam colony 1st street: Rs 3,850 per sq.ft (2024)
• Bashiyam colony 2nd Street: Rs 3,850 per sq.ft (2024)
• Bashiyam colony 3rd sheeet: Rs 3,850 per sq.ft (2024)
• Bashiyam Layout Cross Street: Rs 3,850 per sq.ft (2024)
• Bashiyam Layout Main Road: Rs 3,850 per sq.ft (2024)
• Bashiyam nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Bashiyam colony : -

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 to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Bashiyam colony : -?

The Sub Registrar Office that covers Bashiyam colony : - is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value for Bashiyam colony : -?

The current guideline value for Bashiyam colony : - 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 1,800 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, showing an overall increase of 114% over the years.

What are the stamp duty and registration fees for property in Bashiyam colony : -?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Bashiyam colony : -?

The Velacheri Sub Registrar Office covers Bashiyam colony : - and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Bashiyam colony : -?

Bashiyam colony : - is classified as Residential Class II Type - III, indicating its zoning for residential use.