Guideline Value for BHARATHI STREET

Bharathi Street guideline value

The current guideline value of Bharathi Street in Ottiyampakkam village is Rs 1,950 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Bharathi Street has changed

The guideline value for Bharathi Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,950 per sq.ft, which reflects an increase from Rs 1,800 per sq.ft in 2023, marking an 8% rise. Prior to that, the value was Rs 1,206 per sq.ft in 2017, indicating a substantial increase of 49% over the six-year period.

Looking further back, the guideline value was Rs 1,800 per sq.ft in 2012, which represented a decrease of 33% from the 2017 figure. Overall, comparing the values from 2012 to 2024, there has been an increase of 8%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,950 per sq.ft, which is the same as the 2024 figure for Bharathi Street.

• Blooming Garden: Rs 2,700 per sq.ft (2024)
• Casa Grand Sereno: Rs 3,200 per sq.ft (2024)
• Bagiyam Avenue: Rs 2,900 per sq.ft (2024)
• Avudaiyar Thrid Cross Street: Rs 1,950 per sq.ft (2024)
• Avudaiyar Street: Rs 1,950 per sq.ft (2024)
• Avudaiyar Koil Third Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total cost for these fees to Rs 1,75,500. 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 further calculations.

Which Sub Registrar Office covers Bharathi Street?

The Sub Registrar Office that covers Bharathi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Ottiyampakkam, the guideline value is a critical factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum price at which properties can be registered, ensuring that the government collects appropriate taxes on property transactions.

During the registration process, the actual sale price of the property is compared with the guideline value. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price. Conversely, if the guideline value is higher, the stamp duty is charged based on that value.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2023 to Rs 1,950 per sq.ft in 2024, showing an 8% increase. It was Rs 1,206 per sq.ft in 2017 and Rs 1,800 per sq.ft in 2012.

What is the land classification for Bharathi Street?

Bharathi Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the registration fees for property in Bharathi Street?

The registration fees include a stamp duty of 7% on the guideline value and a registration fee of 2%. For example, the total fees for a 1,000 sq.ft plot would be Rs 1,75,500.

Where is the Sub Registrar Office for Bharathi Street located?

The Sub Registrar Office for Bharathi Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.