Guideline Value for BHARATHI SALAI

Bharathi Salai guideline value

The current guideline value of Bharathi Salai is Rs 1,110 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village under the Chennai South Joint I SRO, with a land classification of Residential Class IV Type - II.

How the guideline value of Bharathi Salai has changed

The guideline value for Bharathi Salai has undergone several revisions over the years. The earliest recorded figure is Rs 244 per sq.ft in 2002, which increased to Rs 281 per sq.ft in 2003, marking a rise of 15%. Following this, the value saw a significant increase of 78% to reach Rs 500 per sq.ft in 2007. The value then doubled to Rs 1,000 per sq.ft in 2012, reflecting a 100% increase. However, it decreased by 33% to Rs 670 per sq.ft in 2017. The subsequent revision in 2023 brought the value back up to Rs 1,000 per sq.ft, and the latest revision in 2024 has set the current guideline value at Rs 1,110 per sq.ft, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 355%. There are no figures available for any other revisions for this street in the register.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft, with a median value of Rs 1,930 per sq.ft. Bharathi Salai's 2024 figure is below this median.

• Buddhar Colony: Rs 1,650 per sq.ft (2024)
• Budhar Colony 1st Street: Rs 1,650 per sq.ft (2024)
• Budhar Colony 2nd Street: Rs 1,650 per sq.ft (2024)
• Budhar Colony 3rd Street: Rs 1,650 per sq.ft (2024)
• Budhar Colony Main Road: Rs 1,650 per sq.ft (2024)
• Chettiaragaram Road: Rs 2,480 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, bringing the total to Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Salai?

Bharathi Salai falls under 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 for more information.

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

The guideline value is a crucial factor when buying or selling property in Karambakkam, as it determines the minimum price at which a property can be registered. Buyers must be aware that the guideline value is used to calculate the stamp duty and registration fees, which are essential costs in the property transaction process.

When a property is sold, the seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This value serves as a benchmark for both buyers and sellers, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Bharathi Salai?

The current guideline value of Bharathi Salai is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 244 per sq.ft in 2002 to Rs 1,110 per sq.ft in 2024. The most significant increase occurred from 2007 to 2012, where it doubled from Rs 500 to Rs 1,000 per sq.ft.

What are the stamp duty and registration fees for a property in Bharathi Salai?

For a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700, and the registration fee would be Rs 22,200, totaling Rs 99,900. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Bharathi Salai?

The Chennai South Joint I Sub Registrar Office handles property registrations for Bharathi Salai. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Bharathi Salai?

Bharathi Salai is classified as Residential Class IV Type - II, indicating its designation for residential purposes within the area.