Guideline Value for BHAARATHIDASAN STREET (WARD-20)

Bhaarathidasan Street (Ward-20) guideline value

The current guideline value of Bhaarathidasan Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Potheri village under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Bhaarathidasan Street (Ward-20) has changed

Over the years, the guideline value for Bhaarathidasan Street has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision, marking a decrease of 33%. The 2023 revision increased the value to Rs 800 per sq.ft, and the current 2024 revision has raised it further to Rs 880 per sq.ft, reflecting a 10% increase from the previous year. The register has no figure for this street in 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the current 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,970 per sq.ft. The median value among these streets is Rs 770 per sq.ft, placing Bhaarathidasan Street's 2024 figure above the median.

• Bhagatsingh Street (Ward-21): Rs 660 per sq.ft (2024)
• Bharathiar Street (Ward-20): Rs 1,100 per sq.ft (2024)
• Bharathi Street (Ward-21): Rs 660 per sq.ft (2024)
• Bhuvaneswari Amman Nagar (Ward-21): Rs 1,100 per sq.ft (2024)
• Bajanai Koil Street (Ward-21): Rs 660 per sq.ft (2024)
• Bajanai Koil Street Vallancheri (Ward -1): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Bhaarathidasan Street (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, leading to a total of Rs 79,200. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Bhaarathidasan Street (Ward-20)?

The Sub Registrar Office that covers Bhaarathidasan Street (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Potheri

The guideline value plays a crucial role in property transactions in Potheri. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must consider this value to understand the financial implications of their transactions.

When a property is sold, the guideline value is assessed to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that all legal requirements are met during the registration process.

Frequently asked questions

What is the current guideline value of Bhaarathidasan Street (Ward-20)?

The current guideline value of Bhaarathidasan Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase being from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

What is the land classification of Bhaarathidasan Street (Ward-20)?

Bhaarathidasan Street (Ward-20) is classified as Residential Class I Type - II, indicating its primary use for residential purposes.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a property valued at Rs 8,80,000 would incur a total fee of Rs 79,200.

Where can I find the Sub Registrar Office for Bhaarathidasan Street (Ward-20)?

The Sub Registrar Office for Bhaarathidasan Street (Ward-20) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengalpattu registration zone.