Guideline Value for Baskar Colony

Baskar Colony guideline value

The current guideline value of Baskar Colony, located in Saligramam village under the Virugambakkam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Baskar Colony has changed

The guideline value for Baskar Colony has undergone several revisions over the years. In 2002, the value was Rs 532 per sq.ft, which increased to Rs 581 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,250 per sq.ft in 2007, and then to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017 before increasing to Rs 5,000 per sq.ft in 2023, and finally reaching Rs 5,500 per sq.ft in 2024.

Between revisions, there have been notable changes: the value increased by 10% from 2023 to 2024, by 49% from 2017 to 2023, and decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was 300%, while from 2003 to 2007, it rose by 115%. Overall, from 2002 to 2024, the guideline value has increased by 934%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Baskar Colony's 2024 figure above the median.

• Baskar Street (Near M.G.R.Street): Rs 3,300 per sq.ft (2024)
• Barani Colony - Thiivakar Street: Rs 6,600 per sq.ft (2024)
• Barani Colony - Surya street: Rs 6,600 per sq.ft (2024)
• Barani Colony - Kannammal Street: Rs 6,600 per sq.ft (2024)
• Barani Colony - Arcot Road: Rs 6,600 per sq.ft (2024)
• Beeran Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Baskar Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Baskar Colony?

The Sub Registrar Office that covers Baskar Colony is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is compliant with the local regulations. Buyers and sellers should be aware of the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Baskar Colony?

The current guideline value of Baskar Colony is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 532 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 934% over the years.

What are the stamp duty and registration fees for property in Baskar Colony?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 4,95,000, based on the current guideline value.

Which Sub Registrar Office covers Baskar Colony?

The Virugambakkam Sub Registrar Office covers Baskar Colony, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Baskar Colony?

Baskar Colony is classified as Residential Special Type - III, indicating its designation for residential development.