Guideline Value for BHARATHI 1ST STREET

Bharathi 1st Street guideline value

The current guideline value of Bharathi 1st Street is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Paleripattu village, under the Avadi SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bharathi 1st Street has changed

The guideline value for Bharathi 1st Street has seen several revisions over the years. In 2002, the value was Rs 179 per sq.ft, which increased to Rs 201 per sq.ft in 2003, marking a 12% rise. The value further increased to Rs 300 per sq.ft in 2007, reflecting a significant 49% increase. By 2012, the value was Rs 900 per sq.ft, showing a remarkable 200% increase from the previous revision. However, in 2017, it decreased to Rs 603 per sq.ft, a decline of 33% from the 2012 figure.

In the subsequent revisions, the guideline value rose to Rs 900 per sq.ft in 2023, and then to Rs 990 per sq.ft in 2024, indicating a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 453%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Paleripattu

In Paleripattu, there are 111 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 801 to Rs 4,200 per sq.ft. The median value is Rs 990 per sq.ft, which is equal to the guideline value of Bharathi 1st Street for 2024.

• Bharathi 2nd Street: Rs 990 per sq.ft (2024)
• Bharathidasan Nagar: Rs 990 per sq.ft (2024)
• Bharathi Dasan St: Rs 801 per sq.ft (2024)
• Bharathi Nagar: Rs 990 per sq.ft (2024)
• Bharathi St: Rs 990 per sq.ft (2024)
• Bharathiyar St: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800. Together, the total cost for stamp duty and registration fee would be Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi 1st Street?

The Sub Registrar Office covering Bharathi 1st Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Paleripattu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Bharathi 1st Street?

The current guideline value of Bharathi 1st Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 179 per sq.ft in 2002 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 453% over the years.

What is the land classification for Bharathi 1st Street?

Bharathi 1st Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Bharathi 1st Street?

The Sub Registrar Office for Bharathi 1st Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Bharathi 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at 7%, plus a registration fee of Rs 19,800 at 2%.