Guideline Value for BHARATHIDASAN 1ST STREET EXTN

Bharathidasan 1st Street Extn guideline value

The current guideline value for Bharathidasan 1st Street Extn is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Bharathidasan 1st Street Extn has changed

The guideline value for Bharathidasan 1st Street Extn has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which is an increase from Rs 1,500 per sq.ft in 2023, reflecting a change of +10%. Prior to that, the 2017 revision recorded a value of Rs 1,005 per sq.ft, marking a significant increase of +49% from the previous 2012 figure of Rs 1,500 per sq.ft. Notably, there are no figures available for this street in the revisions from 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by -33%. Overall, when comparing the 2012 revision to the current 2024 value, there has been a modest increase of +10%, indicating a gradual adjustment in the guideline value over the years.

Guideline values in Pallikaranai

Pallikaranai village comprises 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value stands at Rs 1,650 per sq.ft, which aligns with the current value for Bharathidasan 1st Street Extn.

• Bharathidasan 1st Street - 7th Cross Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street - 6th Cross Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street - 5th Cross Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street - 4th Cross Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan 2nd Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street - 3rd Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan 1st Street Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathidasan 1st Street Extn?

The Sub Registrar Office that covers Bharathidasan 1st Street Extn 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 details.

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

The guideline value is a critical factor in the registration process for property transactions in Pallikaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the fees reflect the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Bharathidasan 1st Street Extn?

The current guideline value of Bharathidasan 1st Street Extn 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 2023 to Rs 1,650 per sq.ft in 2024, a +10% increase. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification for Bharathidasan 1st Street Extn?

Bharathidasan 1st Street Extn is classified as Residential Class IV Type - I according to the local land classification standards.

What are the stamp duty and registration fees for property in Bharathidasan 1st Street Extn?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Bharathidasan 1st Street Extn?

The Chennai South Joint I Sub Registrar Office handles registrations for Bharathidasan 1st Street Extn, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai - 600 035.