Guideline Value for BHARATHI STREET

Bharathi Street guideline value

The current guideline value of Bharathi Street in Arumbakkam village is Rs 5,300 per sq.ft, effective from 1 July 2024. This street falls under the Kodambakkam SRO and is classified as Residential Class II Type - I.

How the guideline value of Bharathi Street has changed

Looking back at the revisions, the guideline value for Bharathi Street has seen significant changes over the years. In 2002, the value was Rs 577 per sq.ft, which increased to Rs 636 per sq.ft in 2003. This was followed by a rise to Rs 1,050 per sq.ft in 2007. However, from 2007 to 2012, the value surged to Rs 4,900 per sq.ft. The 2017 revision recorded a further increase to Rs 3,283 per sq.ft, but the value jumped again to Rs 4,900 per sq.ft in 2023 before reaching the current rate of Rs 5,300 per sq.ft in 2024.

The changes between revisions are notable. From 2002 to 2003, there was a 10% increase. The value rose by 65% from 2003 to 2007. The leap from 2007 to 2012 was a substantial 367%. However, from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023, and finally, there was an 8% rise from 2023 to 2024. Overall, the guideline value has increased by 819% from 2002 to 2024.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Bharathi Street's 2024 figure below that median.

• Bharathi Nagar: Rs 3,800 per sq.ft (2024)
• Bhoopathy Street: Rs 3,300 per sq.ft (2024)
• Bharathi Avenue: Rs 3,800 per sq.ft (2024)
• Balavinayagar Street: Rs 6,000 per sq.ft (2024)
• Balavinayagar Nagar Extn.,: Rs 6,000 per sq.ft (2024)
• Balavinayagar Nagar: Rs 6,000 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 5,300 per sq.ft, the total guideline value amounts to Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, bringing the total to Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bharathi Street?

The Sub Registrar Office that covers Bharathi Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Arumbakkam. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registers.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. The guideline value is subject to periodic revisions, which reflect changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 577 per sq.ft in 2002 to Rs 5,300 per sq.ft in 2024, reflecting an overall increase of 819% over the years.

What is the land classification for Bharathi Street?

Bharathi Street is classified as Residential Class II Type - I under the Kodambakkam SRO.

What are the stamp duty and registration fees for a property on Bharathi Street?

For a property valued at Rs 53,00,000, the stamp duty would be Rs 3,71,000, and the registration fee would be Rs 1,06,000, totaling Rs 4,77,000.

Which office handles registrations for Bharathi Street?

The Kodambakkam Sub Registrar Office handles registrations for Bharathi Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.