Guideline Value for BHARATHIDASAN STREET

Bharathidasan Street guideline value

The current guideline value of Bharathidasan Street, located in Thiruvanmiyur village, is Rs 7,150 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 Street has changed

The guideline value for Bharathidasan Street has undergone several revisions over the years. In 2002, the value was Rs 521 per sq.ft, which increased to Rs 577 per sq.ft in 2003, marking an 11% rise. The value saw a significant increase to Rs 1,300 per sq.ft in 2007, reflecting a 125% change. Following this, in 2012, the value was recorded at Rs 6,500 per sq.ft, indicating a substantial 400% increase from the previous revision.

In 2017, the guideline value dropped to Rs 4,355 per sq.ft, which was a decrease of 33%. However, the value rose again in 2023 to Rs 6,500 per sq.ft, and most recently, it has been revised to Rs 7,150 per sq.ft in 2024, showing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1272%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, placing Bharathidasan Street's 2024 figure below that median.

• Bharathi Nagar: Rs 7,150 per sq.ft (2024)
• Bhagathsingh Street: Rs 7,150 per sq.ft (2024)
• Besant Nagar 7th Avenue: Rs 12,660 per sq.ft (2024)
• Besant Nagar 6th Cross Street: Rs 9,900 per sq.ft (2024)
• BESANT NAGAR 6th AVENUE: Rs 11,000 per sq.ft (2024)
• Bharathi Street (Lakshmipuram 4th Street): Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000. Together, these fees would total Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Bharathidasan Street?

The Sub Registrar Office that covers Bharathidasan 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 Thiruvanmiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives adequate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Bharathidasan Street?

The current guideline value of Bharathidasan Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 521 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 1272% over the years.

What is the land classification of Bharathidasan Street?

Bharathidasan Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for a property on Bharathidasan Street?

For a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 and the registration fee would be Rs 1,43,000, totaling Rs 6,43,500.

Which office handles registrations for Bharathidasan Street?

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