Guideline Value for BHARATHI STREET

Bharathi Street guideline value

The current guideline value of Bharathi Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO and is classified as Residential Class IV Type - III.

How the guideline value of Bharathi Street has changed

Over the years, the guideline value for Bharathi Street has seen significant changes. The 2002 revision set the value at Rs 1,128 per sq.ft, which increased to Rs 1,253 per sq.ft in 2003, marking an 11% rise. Following this, the value rose to Rs 1,540 per sq.ft in 2007, a 23% increase. The next revision in 2012 maintained the value at Rs 6,500 per sq.ft, which remained unchanged until the 2023 revision.

The 2023 revision set the guideline value at Rs 6,500 per sq.ft, with the latest 2024 revision increasing it to Rs 7,100 per sq.ft, reflecting a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 529%. The register has no figure for this street for the year 2017.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Bharathi Street's 2024 value below this median.

• Bharathi Nagar: Rs 7,100 per sq.ft (2024)
• Bishop Garden Extension: Rs 25,300 per sq.ft (2024)
• Bishop Garden Street: Rs 25,300 per sq.ft (2024)
• Bishop Wallers Avenue East: Rs 16,500 per sq.ft (2024)
• Bishop Wallers Avenue South: Rs 16,500 per sq.ft (2024)
• Bishop Wallers Avenue West: Rs 16,500 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 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000. Together, the total cost for stamp duty and registration fee would be Rs 6,39,000. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property transaction occurs, the buyer must pay the applicable stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,128 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 529% over the years.

What is the land classification for Bharathi Street?

Bharathi Street is classified as Residential Class IV Type - III under the Mylapore SRO.

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

For a 1,000 sq.ft plot at the guideline value of Rs 7,100 per sq.ft, the total guideline value is Rs 71,00,000. The stamp duty is Rs 4,97,000, and the registration fee is Rs 1,42,000, totaling Rs 6,39,000.

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

The Mylapore Sub Registrar Office covers Bharathi Street and is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.