Guideline Value for Bashyam Nagar

Bashyam Nagar guideline value

The current guideline value of Bashyam Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is situated in Kolathur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Bashyam Nagar has changed

The guideline value for Bashyam Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 233 per sq.ft, which increased to Rs 253 per sq.ft in 2003. Following this, the value rose dramatically to Rs 700 per sq.ft in 2007, marking an increase of 177%. The value continued to rise, reaching Rs 3,000 per sq.ft in 2012, a substantial increase of 329%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The most recent revision in 2024 shows a guideline value of Rs 3,300 per sq.ft, which is a 64% increase from the 2017 figure.

It is worth noting that the register has no figure for the year 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1316%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Bashyam Nagar.

• Balamurugan Street: Rs 3,300 per sq.ft (2024)
• Balamurugan Nagar: Rs 3,300 per sq.ft (2024)
• Bharath Avenue: Rs 3,300 per sq.ft (2024)
• Bharathiar 1st Street: Rs 3,300 per sq.ft (2024)
• Bharathiar 2nd Street: Rs 3,300 per sq.ft (2024)
• Bharathiar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bashyam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bashyam Nagar?

Bashyam Nagar 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 Kolathur

The guideline value is a crucial factor in the registration process for property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that buyers need to pay when purchasing property. The guideline value helps ensure that the registration process is standardized and transparent.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bashyam Nagar?

The current guideline value of Bashyam Nagar is Rs 3,300 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 233 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1316%.

What is the stamp duty rate for property in Bashyam Nagar?

The stamp duty rate for property transactions in Bashyam Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the guideline values of other streets in Kolathur?

Other streets in Kolathur, such as Balamurugan Street, Balamurugan Nagar, and Bharath Avenue, also have a guideline value of Rs 3,300 per sq.ft for 2024.