Guideline Value for BHARATH MADHA 2ND STREET

Bharath Madha 2nd Street guideline value

The current guideline value of Bharath Madha 2nd Street is Rs 2,750 per sq.ft. This street is located in S. Kullathur village and falls under the Pallavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bharath Madha 2nd Street has changed

The guideline value for Bharath Madha 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,675 per sq.ft. The 2023 revision saw an increase to Rs 2,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for this street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the current guideline value of Bharath Madha 2nd Street.

• Bhavani Street: Rs 2,530 per sq.ft (2024)
• Bakiyalakshmi Nagar 1 To 5 Streets: Rs 2,750 per sq.ft (2024)
• Chinnapa Nagar: Rs 2,750 per sq.ft (2024)
• Chinnappa Nagar 1 And 2 Streets: Rs 2,750 per sq.ft (2024)
• Devi Karumariamman Nagar: Rs 2,530 per sq.ft (2024)
• Devi Karumariamman Nagar 1 & 2 Main Road: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Bharath Madha 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, resulting in a total of Rs 2,47,500. 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 detailed calculations.

Which Sub Registrar Office covers Bharath Madha 2nd Street?

The Sub Registrar Office that covers Bharath Madha 2nd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in S. Kullathur

When buying or selling property in S. Kullathur, the guideline value plays a crucial role in determining the registration fees and stamp duty. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding this value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Bharath Madha 2nd Street?

The current guideline value of Bharath Madha 2nd Street is Rs 2,750 per sq.ft, as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. It was Rs 1,675 per sq.ft in 2017, which shows a 49% increase to the 2023 figure.

What is the land classification for Bharath Madha 2nd Street?

Bharath Madha 2nd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Bharath Madha 2nd Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more information about your SRO through the provided link.