Guideline Value for BHARATHIDASAN 1ST STREET

Bharathidasan 1st Street guideline value

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

How the guideline value of Bharathidasan 1st Street has changed

The guideline value for Bharathidasan 1st Street has undergone several revisions over the years. In 2002, the guideline value was Rs 58 per sq.ft. This increased to Rs 100 per sq.ft in 2003, marking a 72% rise. The value then saw a significant increase of 300% to Rs 400 per sq.ft in 2007. Following this, the value jumped to Rs 1,500 per sq.ft in 2012, reflecting a 275% increase. However, it dropped to Rs 1,005 per sq.ft in 2017, which was a decrease of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, before reaching the current figure of Rs 1,650 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,745%. There are no figures available for revisions in years other than those specified.

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 is Rs 1,650 per sq.ft, which is equal to the current value of Bharathidasan 1st Street.

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

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

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, totaling Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathidasan 1st Street?

The Bharathidasan 1st Street is covered by 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 in the registration process when buying or selling property in Pallikaranai. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees payable. This helps to ensure that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Bharathidasan 1st 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 58 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 2,745% over the years.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, which is the same as the current value for Bharathidasan 1st Street.

How is stamp duty calculated for properties in Bharathidasan 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,15,500 based on the current guideline value.

Which office handles registrations for Bharathidasan 1st Street?

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