Guideline Value for BHARATHIDASAN 1ST STREET - 6TH CROSS STREET

Bharathidasan 1st Street - 6th Cross Street guideline value

The current guideline value for Bharathidasan 1st Street - 6th Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Bharathidasan 1st Street - 6th Cross Street has changed

The guideline value for Bharathidasan 1st Street - 6th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. However, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. The value then saw a substantial increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Bharathidasan 1st Street - 6th Cross Street.

• Bharathidasan 1st Street - 5th Cross Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street - 7th Cross Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street - 4th Cross Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street Extn: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street - 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street - 2nd Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan 1st Street - 6th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Bharathidasan 1st Street - 6th Cross Street?

The Sub Registrar Office that covers Bharathidasan 1st Street - 6th Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pallikaranai, as it determines the minimum value at which the property can be registered. This value is set by the government and is regularly updated to reflect changes in the market.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Bharathidasan 1st Street - 6th Cross Street?

The current guideline value for Bharathidasan 1st Street - 6th Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Bharathidasan 1st Street - 6th Cross Street is Residential Class IV Type - I.

Where can I find the registration office for this area?

The registration office for Bharathidasan 1st Street - 6th Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.