Guideline Value for BHARATHI STREET

Bharathi Street guideline value

The current guideline value of Bharathi Street in Vadaagaram village, under the Kodambakkam SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Bharathi Street has changed

Since the 2002 revision, the guideline value for Bharathi Street has seen significant changes. The value started at Rs 921 per sq.ft in 2002, increased to Rs 1,019 per sq.ft in 2003, and then rose to Rs 1,350 per sq.ft in 2007. Following that, there was a substantial increase to Rs 6,000 per sq.ft in 2012, but the value dropped to Rs 4,020 per sq.ft in 2017. The value then increased to Rs 6,000 per sq.ft in 2023 before reaching the current rate of Rs 6,600 per sq.ft in 2024.

The changes between these revisions are noteworthy. From 2002 to 2003, the increase was +11%. The value rose by +32% from 2003 to 2007, followed by a remarkable +344% increase from 2007 to 2012. However, from 2012 to 2017, there was a decrease of -33%. The guideline value then increased by +49% from 2017 to 2023, and finally, there was a +10% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +617%.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. Bharathi Street's 2024 guideline value of Rs 6,600 per sq.ft is equal to the median value of the streets in the village.

• Chinnasamy Street: Rs 5,500 per sq.ft (2024)
• Bajibai Road: Rs 3,300 per sq.ft (2024)
• Ganesa Road: Rs 3,300 per sq.ft (2024)
• Gangadharan Street: Rs 4,900 per sq.ft (2024)
• Govindan Street: Rs 7,000 per sq.ft (2024)
• Govindasamy Street: 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 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. 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 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 Vadaagaram

The guideline value is a critical factor during the registration process of property transactions in Vadaagaram. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring transparency in property dealings.

When you engage in a property transaction, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications tied to the property’s valuation.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 921 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of +617% over this period.

What is the land classification for Bharathi Street?

Bharathi Street is classified as Residential Special Type - II, which influences its guideline value and usage.

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

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

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.