Guideline Value for BHARATHI STREET

Bharathi Street guideline value

The current guideline value of Bharathi Street in Korattur village, under the Villivakkam SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Bharathi Street has changed

Looking at the revisions, the guideline value for Bharathi Street was Rs 1,200 per sq.ft in 2023, which increased to Rs 1,300 per sq.ft in 2024, marking an 8% rise. Prior to this, in 2017, the value was Rs 804 per sq.ft, showing a significant increase of 49% to reach the 2023 figure. The 2012 revision also recorded a value of Rs 1,200 per sq.ft, which indicates a decrease of 33% when compared to the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for Bharathi Street. Overall, when comparing the 2012 figure of Rs 1,200 per sq.ft to the current 2024 figure, there has been an overall increase of 8%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Bharathi Street's 2024 figure below this median.

• Bharathi Nagar Gandhi Street: Rs 2,500 per sq.ft (2024)
• Bharath Nagar: Rs 2,500 per sq.ft (2024)
• Bharath Nagar Extension: Rs 2,500 per sq.ft (2024)
• Bharathrathna Rajigandhi Nagar (Kallikuppam): Rs 1,600 per sq.ft (2024)
• Bharathi Nagar: Rs 1,600 per sq.ft (2024)
• Bhavani Nagar: Rs 1,600 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the fees are based on the higher of the guideline value or the agreed sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Bharathi Street?

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

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, an increase of 8%. It was Rs 804 per sq.ft in 2017, showing a 49% increase to the 2023 figure.

What is the land classification for Bharathi Street?

Bharathi Street is classified as Residential Class IV Type - I according to the land classification guidelines.

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

The Villivakkam Sub Registrar Office covers Bharathi Street and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Bharathi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft would incur a total stamp duty of Rs 91,000.