Guideline Value for Basiyam Street

Basiyam Street guideline value

The current guideline value of Basiyam Street in Zaminpallavaram village is Rs 3,520 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Basiyam Street has changed

The guideline value for Basiyam Street has undergone several revisions over the years. The earliest recorded value was Rs 536 per sq.ft in 2003. This increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 87%. In 2012, the value was revised to Rs 3,200 per sq.ft, showing an impressive increase of 220%. However, this value dropped to Rs 2,144 per sq.ft in 2017, reflecting a decrease of 33%. The next revision in 2023 set the value at Rs 3,200 per sq.ft, which was then increased to Rs 3,520 per sq.ft in 2024, representing a 10% rise.

It is important to note that there is no figure available for Basiyam Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 557%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Basiyam Street's 2024 value above this median.

• Bangaru Nagar: Rs 2,750 per sq.ft (2024)
• Balamurugan Street: Rs 3,300 per sq.ft (2024)
• Balamurugan Cross Street: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar Main Road (Part): Rs 3,520 per sq.ft (2024)
• Bharathi Street: Rs 4,400 per sq.ft (2024)
• Balaji Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Basiyam Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total fees together to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Basiyam Street?

The Sub Registrar Office that covers Basiyam Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of purchasing or selling property. Accurate knowledge of the guideline value can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Basiyam Street?

The current guideline value of Basiyam Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several revisions, with the most recent increase from Rs 3,200 per sq.ft in 2023 to Rs 3,520 per sq.ft in 2024, a change of 10%.

What is the land classification for Basiyam Street?

Basiyam Street is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Basiyam Street?

The Sub Registrar Office for Basiyam Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties on Basiyam Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,46,400.