Guideline Value for BHARATHIAR STREET (WARD -18)

Bharathiar Street (Ward -18) guideline value

The current guideline value of Bharathiar Street (Ward -18) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Bharathiar Street (Ward -18) has changed

In the 2012 revision, the guideline value was Rs 500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft, marking a decline of 33%. The following revision in 2023 saw a significant increase to Rs 500 per sq.ft, and the latest revision in 2024 has further increased it to Rs 550 per sq.ft, reflecting a 10% rise from the previous year. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 10%, with a notable rise of 49% from 2017 to 2023. The changes in the guideline value over the years highlight the fluctuations in property valuation in this area.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Bharathiar Street (Ward -18) below the median value.

• Bharathiar Street (Ward -3): Rs 660 per sq.ft (2024)
• Bharathiar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Bharanar Steet (Ward -6): Rs 1,320 per sq.ft (2024)
• Bethanaidu Street (Ward -18): Rs 550 per sq.ft (2024)
• Bhavani Nagar (Per): Rs 660 per sq.ft (2024)
• Balaji Nagar (Ward -19): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiar Street (Ward -18)

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, resulting in a total cost of Rs 49,500. 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 more details.

Which Sub Registrar Office covers Bharathiar Street (Ward -18)?

The Sub Registrar Office that covers Bharathiar Street (Ward -18) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Sattamangalam

The guideline value plays a crucial role in property transactions in Sattamangalam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives a fair amount based on the property's assessed value.

When selling property, the guideline value helps establish a baseline for negotiations. Buyers and sellers can refer to the guideline value to understand the expected pricing for properties in the area, ensuring transparency in transactions.

Frequently asked questions

What is the current guideline value of Bharathiar Street (Ward -18)?

The current guideline value of Bharathiar Street (Ward -18) is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the classification of Bharathiar Street (Ward -18)?

Bharathiar Street (Ward -18) is classified as Residential Class II Type - I.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Bharathiar Street (Ward -18)?

Stamp duty for properties in Bharathiar Street (Ward -18) is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 5,50,000 would incur a stamp duty of Rs 38,500.