Guideline Value for BHARATHI 3RD STREET

Bharathi 3rd Street guideline value

The current guideline value of Bharathi 3rd Street is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam 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 3rd Street has changed

In the 2012 revision, the guideline value was Rs 1,400 per sq.ft. This value decreased to Rs 938 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,400 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 established the guideline value at Rs 1,540 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for Bharathi 3rd Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Bharathi 3rd Street's 2024 figure is below that median.

• Bharathi 2nd Street: Rs 1,540 per sq.ft (2024)
• Bharathi Cross Street: Rs 3,320 per sq.ft (2024)
• Bhagavathi Nagar: Rs 2,200 per sq.ft (2024)
• Bharathi Ist Street: Rs 1,540 per sq.ft (2024)
• Bell Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Bell Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,540 per sq.ft, the guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, totaling Rs 1,38,600. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi 3rd Street?

The Sub Registrar Office that covers Bharathi 3rd 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. You can find your SRO here.

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

The guideline value is a crucial factor in the registration process of property transactions in Medavakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is bought or sold, 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 government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathi 3rd Street?

The current guideline value of Bharathi 3rd Street is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024.

What is the land classification for Bharathi 3rd Street?

Bharathi 3rd Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Bharathi 3rd Street?

The Sub Registrar Office for Bharathi 3rd 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.

How is the stamp duty calculated for properties in Bharathi 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 15,40,000, the stamp duty would be Rs 1,07,800 at 7%.