Guideline Value for BHARATHIAR STREET

Bharathiar Street guideline value

The current guideline value of Bharathiar Street in Vengathur village is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the Manavalanagar SRO and is classified as Residential Class I Type - I.

How the guideline value of Bharathiar Street has changed

Since the 2007 revision, the guideline value for Bharathiar Street has seen significant changes. In 2007, the value was Rs 125 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a substantial rise of 700%. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, a drop of 33%. The value then rose again to Rs 1,000 per sq.ft in 2023, remaining unchanged through to the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 1,000 per sq.ft. Notably, the register has no figures for Bharathiar Street for the years 2002 and 2003.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value stands at Rs 1,000 per sq.ft, which is equal to the current guideline value of Bharathiar Street.

• Bharathidhasan Street: Rs 1,300 per sq.ft (2024)
• Buther Street: Rs 1,300 per sq.ft (2024)
• Chandra Nagar: Rs 500 per sq.ft (2024)
• Baba Street: Rs 800 per sq.ft (2024)
• Azhagiri Street: Rs 1,300 per sq.ft (2024)
• Awwai Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiar Street?

The Sub Registrar Office that covers Bharathiar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Vengathur, the guideline value plays a crucial role during the registration process. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value determined by the government.

Both buyers and sellers must be aware that the guideline value is used to assess the financial obligations related to property transactions. It is essential to understand that the final duty is applied to the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bharathiar Street?

The current guideline value of Bharathiar Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in 2023, remaining unchanged in 2024.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, which is the same as the current guideline value for Bharathiar Street.

What are the stamp duty rates applicable?

The stamp duty rate is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Which office handles the registration for Bharathiar Street?

The Manavalanagar Sub Registrar Office handles the registration for Bharathiar Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.