Guideline Value for BHARATHIDASAN 2ND STREET

Bharathidasan 2nd Street guideline value

The current guideline value for Bharathidasan 2nd 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 2nd Street has changed

The guideline value for Bharathidasan 2nd Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 58 per sq.ft. This increased to Rs 100 per sq.ft in 2003, marking a rise of 72%. The value further increased significantly to Rs 400 per sq.ft in 2007, which was a 300% increase. In 2012, the value was revised to Rs 1,500 per sq.ft, reflecting a 275% increase. However, this value decreased by 33% to Rs 1,005 per sq.ft in 2017. The 2023 revision set the value at Rs 1,500 per sq.ft, and the latest revision in 2024 has raised it to Rs 1,650 per sq.ft, a 10% increase.

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

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, which is equal to the 2024 figure for Bharathidasan 2nd Street.

• Bharathidasan 2nd Street Extn: Rs 1,650 per sq.ft (2024)
• Bharathidasan Angu Salai Extn: Rs 1,650 per sq.ft (2024)
• Bharathidasan 1st Street Extn: Rs 1,650 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Bharathidasan 2nd Street

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 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.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bharathidasan 2nd Street?

The Bharathidasan 2nd Street falls under 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. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Pallikaranai. It serves as the basis for calculating the stamp duty and registration fees that must be paid to the government. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When a property is registered, the guideline value helps ensure that the transaction is documented at a fair and standardized price, which is important for legal and taxation purposes. It is advisable for buyers and sellers to familiarize themselves with the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Bharathidasan 2nd Street?

The current guideline value for Bharathidasan 2nd 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 land classification for Bharathidasan 2nd Street?

The land classification for Bharathidasan 2nd Street is Residential Class IV Type - I.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft plot, the total guideline value is 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.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Bharathidasan 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.