Guideline Value for BARATHI ROAD 1ST STREET

Barathi Road 1st Street guideline value

The current guideline value of Barathi Road 1st Street in Perambur village, under the Purasaivakkam SRO, is Rs 5,400 per sq.ft, effective from 1 July 2024. This classification falls under Residential Class I Type - I.

How the guideline value of Barathi Road 1st Street has changed

In the 2007 revision, the guideline value was Rs 800 per sq.ft. This figure saw a significant increase in the 2012 revision, where it was set at Rs 5,500 per sq.ft, marking a rise of 588%. However, in the 2017 revision, the value decreased to Rs 3,350 per sq.ft, which was a decline of 39%. The following revisions saw a steady increase, with the 2023 revision at Rs 5,000 per sq.ft, an increase of 49% from 2017. The most recent revision in 2024 has set the guideline value at Rs 5,400 per sq.ft, reflecting an 8% increase from 2023.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 575%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a guideline value for 2024, ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Barathi Road 1st Street's 2024 guideline value of Rs 5,400 per sq.ft is above this median.

• Barathi Road: Rs 6,400 per sq.ft (2024)
• Barathi Road 2nd Street: Rs 5,400 per sq.ft (2024)
• Barathi Nagar All Streets: Rs 2,700 per sq.ft (2024)
• Barathidasan Street: Rs 2,700 per sq.ft (2024)
• Barathamatha Street: Rs 3,800 per sq.ft (2024)
• Barathamatha 3rd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Barathi Road 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 5,400 per sq.ft, the guideline value would be Rs 54,00,000. The stamp duty at 7% would amount to Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000, totaling Rs 4,86,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Barathi Road 1st Street?

The Sub Registrar Office covering Barathi Road 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Perambur, as it determines the minimum value at which a property can be registered. It is used by the registration authorities to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Barathi Road 1st Street?

The current guideline value of Barathi Road 1st Street is Rs 5,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 5,400 per sq.ft in 2024, with various increases and decreases in between. The most significant increase was from 2012 to 2017, where it dropped from Rs 5,500 to Rs 3,350 per sq.ft.

What is the stamp duty for property in Barathi Road 1st Street?

The stamp duty for property in Barathi Road 1st Street is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 54,00,000, the stamp duty would be Rs 3,78,000.

Where can I find the Sub Registrar Office for Barathi Road 1st Street?

The Sub Registrar Office for Barathi Road 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Barathi Road 1st Street?

The land classification for Barathi Road 1st Street is Residential Class I Type - I, indicating its suitability for residential development.