Guideline Value for BHARATHA MATHA 2ND STREET

Bharatha Matha 2nd Street guideline value

The current guideline value of Bharatha Matha 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class V Type - II.

How the guideline value of Bharatha Matha 2nd Street has changed

The guideline value for Bharatha Matha 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 650 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 208% rise. However, in 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a 33% drop. The value then rose to Rs 2,000 per sq.ft in 2023, a 49% increase, and finally reached Rs 2,200 per sq.ft in the 2024 revision, representing a 10% increase.

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 238%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Bharatha Matha 2nd Street's 2024 figure is below this median.

• Bharatha Matha 1st Street: Rs 2,200 per sq.ft (2024)
• Bhakthavatchalam Street: Rs 4,900 per sq.ft (2024)
• Bhakthavatchalam Lane: Rs 4,900 per sq.ft (2024)
• B & C Staff Quarters (Jai Nagar): Rs 4,900 per sq.ft (2024)
• Barracks Gate Road: Rs 5,500 per sq.ft (2024)
• Barracks Gate Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bharatha Matha 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling 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 Bharatha Matha 2nd Street?

The Sub Registrar Office that covers Bharatha Matha 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 Purasaivakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bharatha Matha 2nd Street?

The current guideline value of Bharatha Matha 2nd Street 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 from Rs 650 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 238% over the years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations in Purasaivakkam?

The Purasaivakkam Sub Registrar Office handles property registrations in Purasaivakkam, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

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

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is compared with the sale price to determine which value is applicable for these calculations.