Guideline Value for Bashyam Street

Bashyam Street guideline value

The current guideline value of Bashyam Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bashyam Street has changed

The guideline value for Bashyam Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, marking a significant rise of 150%. However, between 2012 and 2017, the value decreased by 33% to Rs 1,675 per sq.ft. The value then increased substantially by 49% to Rs 2,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for Bashyam Street. Overall, from 2007 to 2024, the guideline value has increased by 170%.

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 value for these streets is Rs 3,301 per sq.ft, placing Bashyam Street's 2024 figure below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total 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, 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 and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bashyam Street?

The Bashyam Street falls under the jurisdiction of 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 during the registration of property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the applicable stamp duty and registration fees, which are necessary for completing the registration process.

Frequently asked questions

What is the current guideline value of Bashyam Street?

The current guideline value of Bashyam 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 significantly from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over this period.

What are the other streets in Peravallur with the same guideline value?

Other streets in Peravallur with a guideline value of Rs 2,700 per sq.ft include Bashiyam Reddy Street, Bashiyam Reddy Colony, Balvargise Street, Balvargise Colony, Ballard Street, and Balasubramaniyan Salai.

Where is the Sembiam Sub Registrar Office located?

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

How is stamp duty calculated for property in Bashyam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would amount to Rs 1,89,000.