Guideline Value for BHARATHIDASAN STREET

Bharathidasan Street guideline value

The current guideline value of Bharathidasan Street in Palavakkam village is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Bharathidasan Street has changed

The guideline value for Bharathidasan Street has seen several revisions over the years. The earliest figure recorded was Rs 409 per sq.ft in 2002. This increased to Rs 457 per sq.ft in 2003, followed by a significant rise to Rs 1,000 per sq.ft in 2007. The value then jumped to Rs 3,500 per sq.ft in 2012, before decreasing to Rs 2,345 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,500 per sq.ft in 2023 and then to Rs 3,900 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. The jump from 2023 to 2024 reflects an increase of 11%. Notably, the value saw a remarkable 250% increase from 2007 to 2012, while there was a decrease of 33% from 2012 to 2017. Overall, from 2002 to 2024, the guideline value has increased by 854%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value range from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Bharathidasan Street's 2024 value above this median.

• Bharathi Nagar 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar 2nd Main Road: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar Road (Street): Rs 2,800 per sq.ft (2024)
• Bharathiyar 1st Street: Rs 2,800 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, 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 Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Palavakkam, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers should be aware that the guideline value serves as a benchmark for property transactions and is essential for legal documentation during the registration process.

When a property is sold, the sale price must be equal to or greater than the guideline value. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Bharathidasan Street?

The current guideline value of Bharathidasan Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 409 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 854% over this period.

What is the registration office for Bharathidasan Street?

The registration office for Bharathidasan Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum value for calculating stamp duty and registration fees during property transactions. It ensures that the sale price is accurately reflected and that the correct taxes are paid.