Guideline Value for BHARATHIAR STREET (WARD -3)

Bharathiar Street (Ward -3) guideline value

The current guideline value of Bharathiar Street (Ward -3) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Bharathiar Street (Ward -3) has changed

The guideline value for Bharathiar Street (Ward -3) has seen several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. In 2023, the value increased to Rs 600 per sq.ft, and the latest revision in 2024 has set the value at Rs 660 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

Analyzing the changes between revisions, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Bharathiar Street (Ward -3) below the median at Rs 660 per sq.ft.

• Bharathiar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Bharathiar Street (Ward -18): Rs 660 per sq.ft (2024)
• Bharanar Steet (Ward -6): Rs 1,321 per sq.ft (2024)
• Bethanaidu Street (Ward -18): Rs 660 per sq.ft (2024)
• Bharathi Nagar: Rs 660 per sq.ft (2024)
• Bhavani Nagar (Per): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiar Street (Ward -3)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% is Rs 46,200, and the registration fee at 2% is Rs 13,200, bringing the total cost for these fees to Rs 59,400. 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 Bharathiar Street (Ward -3)?

The Sub Registrar Office that covers Bharathiar Street (Ward -3) 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 Ninna Karai

The guideline value plays a crucial role when buying or selling property in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating the applicable stamp duty and registration fees, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to assess the transaction value for taxation purposes. Buyers should be aware that if the sale price exceeds the guideline value, the stamp duty will be calculated based on the higher amount, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathiar Street (Ward -3)?

The current guideline value of Bharathiar Street (Ward -3) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Bharathiar Street (Ward -3)?

The land classification for Bharathiar Street (Ward -3) is Residential Class I Type - III. This classification indicates the type of residential development permitted in the area.

What are the stamp duty and registration fees for a property in Bharathiar Street (Ward -3)?

For a property valued at Rs 6,60,000, the stamp duty is Rs 46,200, and the registration fee is Rs 13,200, totaling Rs 59,400. These fees are based on the guideline value.

Which office handles registrations for Bharathiar Street (Ward -3)?

The Chengleput Joint II Sub Registrar Office handles registrations for Bharathiar Street (Ward -3), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.