Guideline Value for Baskar Street (Near M.G.R.Street)

Baskar Street (Near M.G.R.Street) guideline value

The current guideline value for Baskar Street (Near M.G.R.Street) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Baskar Street (Near M.G.R.Street) has changed

The guideline value for Baskar Street has seen 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, marking a 9% rise. Following this, the value rose significantly to Rs 850 per sq.ft in 2007, a change of 46%. The 2012 revision saw the value increase to Rs 3,000 per sq.ft, reflecting a substantial 253% growth. However, in 2017, the value dropped to Rs 2,010 per sq.ft, indicating a decrease of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, a 10% increase.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 520%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Baskar Street's 2024 guideline value below this median.

• Baskar Colony: Rs 5,500 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 Street (Near M.G.R.Street)

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

Which Sub Registrar Office covers Baskar Street (Near M.G.R.Street)?

The Sub Registrar Office that covers Baskar Street 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 plays a crucial role in the registration process when buying or selling property in Saligramam. It serves as the basis for calculating stamp duty and registration fees, ensuring that all transactions are in line with the official valuations set by the government.

When a property is registered, the guideline value is considered to determine the applicable fees. Buyers and sellers must be aware of the guideline value to ensure they are paying the correct amount during the registration process.

Frequently asked questions

What is the current guideline value for Baskar Street?

The current guideline value for Baskar Street (Near M.G.R.Street) 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 several times, starting from Rs 532 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 520%.

What is the land classification for Baskar Street?

Baskar Street is classified as Residential Class III Type - I.

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

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

How is stamp duty calculated for properties in Baskar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.