Guideline Value for Shri Bakthavatchalam avenue 559/2,560,561,564

Shri Bakthavatchalam avenue 559/2,560,561,564 guideline value

The current guideline value for Shri Bakthavatchalam avenue 559/2,560,561,564 is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Poonthamallee village under the Poonamallee SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Shri Bakthavatchalam avenue 559/2,560,561,564 has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 200 per sq.ft. This increased dramatically to Rs 2,000 per sq.ft in 2012, marking a 900% increase. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, followed by a rise to the current value of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, the guideline value has increased by 1000%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Shri Bakthavatchalam avenue is equal to this median.

• Shri ambal nagar phase 1: Rs 2,740 per sq.ft (2024)
• Shri Ambal Nagar Malligai Avenue: Rs 2,740 per sq.ft (2024)
• Shri Ambal Nagar Ethiraj Naidu Avenue: Rs 2,740 per sq.ft (2024)
• Shri ambal nagar: Rs 2,740 per sq.ft (2024)
• Shri ambal city: Rs 2,740 per sq.ft (2024)
• Shrenivasa nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Bakthavatchalam avenue 559/2,560,561,564

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Shri Bakthavatchalam avenue 559/2,560,561,564?

The Sub Registrar Office covering Shri Bakthavatchalam avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency in property transactions and ensures that the correct fees are collected by the government.

Frequently asked questions

What is the current guideline value for Shri Bakthavatchalam avenue?

The current guideline value for Shri Bakthavatchalam avenue 559/2,560,561,564 is Rs 2,200 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 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers this property?

The Poonamallee Sub Registrar Office covers Shri Bakthavatchalam avenue, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the land classification for this street?

The land classification for Shri Bakthavatchalam avenue is Residential Class II Type - I, which indicates the type of development allowed in the area.