Guideline Value for Bhakathvachalam Street

Bhakathvachalam Street guideline value

The current guideline value of Bhakathvachalam Street in Anakaputhur village, under the Pammal SRO, is Rs 2,350 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Bhakathvachalam Street has changed

The guideline value for Bhakathvachalam Street has seen significant changes over the years. In 2003, the value was Rs 256 per sq.ft, which increased to Rs 300 per sq.ft in 2007, marking a 17% rise. The value then surged to Rs 1,407 per sq.ft in 2017, reflecting a remarkable increase of 369%. By 2023, the guideline value had risen to Rs 2,099 per sq.ft, a 49% increase from the previous revision. The latest revision in 2024 set the value at Rs 2,350 per sq.ft, which is a 12% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 818%.

Guideline values in Anakaputhur

In Anakaputhur village, there are 501 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing Bhakathvachalam Street's 2024 figure above this median.

• Bhakathvachalam Nagar Main Road: Rs 2,350 per sq.ft (2024)
• Bhakathvachalam Nagar 3rd Cross Street: Rs 2,350 per sq.ft (2024)
• Bhakathvachalam Nagar 2nd Cross Street: Rs 2,350 per sq.ft (2024)
• Bhakathvachalam Nagar 1st Cross Street: Rs 2,350 per sq.ft (2024)
• Bazar Street: Rs 1,760 per sq.ft (2024)
• Bharathiya Desiya Sangam Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Bhakathvachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total guideline value amounts to Rs 23,50,000. The stamp duty at 7% would be Rs 1,64,500, and the registration fee at 2% would be Rs 47,000, bringing the total to Rs 2,11,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhakathvachalam Street?

The Sub Registrar Office that covers Bhakathvachalam Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the registration process.

When a property is sold, the guideline value is often used to assess the minimum value for the transaction. This means that if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead of the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bhakathvachalam Street?

The current guideline value of Bhakathvachalam Street is Rs 2,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 256 per sq.ft in 2003 to Rs 2,350 per sq.ft in 2024, marking an overall increase of 818% over this period.

What is the registration office for Bhakathvachalam Street?

The registration office for Bhakathvachalam Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty rates applicable?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% of the guideline value or sale price.

Where can I find more information about stamp duty and registration fees?

For more information on stamp duty and registration fees, you can use the stamp duty and registration fee calculator.