Guideline Value for BHARATHI STREET (LAKSHMIPURAM 4TH STREET)

Bharathi Street (Lakshmipuram 4th Street) guideline value

The current guideline value of Bharathi Street (Lakshmipuram 4th Street) is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Bharathi Street (Lakshmipuram 4th Street) has changed

The guideline value for Bharathi Street has undergone several revisions over the years. In 2012, the value was Rs 6,500 per sq.ft, which then decreased to Rs 4,355 per sq.ft in 2017. Following this, the value increased significantly to Rs 6,500 per sq.ft in 2023, and then rose again to Rs 7,150 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for the area is Rs 9,900 per sq.ft, making Bharathi Street's 2024 figure below that median.

• Bharathi Nagar: Rs 7,150 per sq.ft (2024)
• Bhinaci Street: Rs 7,150 per sq.ft (2024)
• Bharathidasan Street: Rs 7,150 per sq.ft (2024)
• Bhagathsingh Street: Rs 7,150 per sq.ft (2024)
• Besant Nagar 7th Avenue: Rs 12,660 per sq.ft (2024)
• Besant Nagar 6th Cross Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Street (Lakshmipuram 4th Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total cost for these fees to Rs 6,43,500. 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 Bharathi Street (Lakshmipuram 4th Street)?

The Sub Registrar Office covering Bharathi Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, you can visit find your SRO.

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

The guideline value is an important factor when registering property in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the registration process is transparent and fair.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street (Lakshmipuram 4th Street) is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, then increased to Rs 6,500 per sq.ft in 2023, and finally to Rs 7,150 per sq.ft in 2024.

What is the land classification for Bharathi Street?

Bharathi Street (Lakshmipuram 4th Street) is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Bharathi Street?

The Sub Registrar Office for Bharathi Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for property in Bharathi Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the same value.