Guideline Value for BHARATHI 2ND STREET

Bharathi 2nd Street guideline value

The current guideline value of Bharathi 2nd 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 2nd Street has changed

The guideline value for Bharathi 2nd 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. The value then rose by 49% to Rs 300 per sq.ft in 2007. Following this, there was a significant increase of 200%, bringing the value to Rs 900 per sq.ft in 2012. However, in 2017, the value dropped to Rs 603 per sq.ft, a decrease of 33%. The guideline value then increased by 49% to Rs 900 per sq.ft in 2023, and most recently, it has risen by 10% to Rs 990 per sq.ft in 2024.

There are no figures available for the revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by 453%.

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 2nd Street.

• Bharathi 1st 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 2nd Street

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

Which Sub Registrar Office covers Bharathi 2nd Street?

The Sub Registrar Office that covers Bharathi 2nd 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 information.

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, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathi 2nd Street?

The current guideline value of Bharathi 2nd 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 are the other streets in Paleripattu with similar guideline values?

Other streets in Paleripattu with a guideline value of Rs 990 per sq.ft include Bharathi 1st Street, Bharathidasan Nagar, Bharathi Nagar, Bharathi St, and Bharathiyar St.

What fees are associated with buying property in Bharathi 2nd Street?

When buying property in Bharathi 2nd Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bharathi 2nd Street?

The Sub Registrar Office for Bharathi 2nd 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.