Guideline Value for BARATHI ROAD 2ND STREET

Barathi Road 2nd Street guideline value

The current guideline value of Barathi Road 2nd Street is Rs 5,400 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Barathi Road 2nd Street has changed

Since the 2007 revision, the guideline value for Barathi Road 2nd Street has seen significant changes. In 2007, the value was Rs 800 per sq.ft, which increased dramatically to Rs 5,000 per sq.ft in 2012, marking a rise of 525%. However, it then dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 5,000 per sq.ft in 2023, followed by a further increase to Rs 5,400 per sq.ft in the 2024 revision, reflecting an 8% rise.

Looking at the revisions, the 2023 to 2024 change was an increase of 8%, while the jump from 2017 to 2023 was a notable 49%. Overall, from 2007 to 2024, the guideline value has increased by 575%. The register has no figures for the years 2002 and 2003 for this street.

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 of Rs 2,700 per sq.ft. The guideline value of Barathi Road 2nd Street is above this median.

• Barathi Road 1st Street: Rs 5,400 per sq.ft (2024)
• Barathi Road: Rs 6,400 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 2nd 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 be Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000, totaling Rs 4,86,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Barathi Road 2nd Street?

The Sub Registrar Office that covers Barathi Road 2nd 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 crucial factor during the registration of property transactions in Perambur. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers to be aware of this value to ensure they are paying a fair price and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Barathi Road 2nd Street?

The current guideline value of Barathi Road 2nd 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 significantly from Rs 800 per sq.ft in 2007 to Rs 5,400 per sq.ft in 2024, with various revisions in between reflecting increases and decreases.

What are the stamp duty and registration fees for property in Barathi Road 2nd Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 54,00,000, the total fees would amount to Rs 4,86,000.

Which Sub Registrar Office handles transactions for Barathi Road 2nd Street?

The Purasaivakkam Sub Registrar Office handles transactions for Barathi Road 2nd Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the significance of the guideline value in property transactions?

The guideline value serves as the minimum value for property registration, ensuring that the appropriate stamp duty and registration fees are collected by the state. It helps buyers and sellers understand the property's value during transactions.