Guideline Value for BHARATHIDASAN STREET

Bharathidasan Street guideline value

The current guideline value of Bharathidasan Street in Padi village, under the Villivakkam SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class IV Type - II.

How the guideline value of Bharathidasan Street has changed

The guideline value for Bharathidasan Street has seen significant changes over the years. In the 2002 revision, the value was Rs 402 per sq.ft, which increased to Rs 455 per sq.ft in 2003. Following this, the 2007 revision marked a substantial rise to Rs 850 per sq.ft, and by 2012, the value reached Rs 3,100 per sq.ft. However, the 2017 revision saw a decrease to Rs 2,077 per sq.ft. The value then increased to Rs 3,100 per sq.ft in the 2023 revision, and the latest revision in 2024 has set it at Rs 3,400 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 746%. Each revision has shown varying changes: from 2002 to 2003, there was a 13% increase; from 2003 to 2007, it increased by 87%; the jump from 2007 to 2012 was 265%; the value decreased by 33% from 2012 to 2017; and the increase from 2017 to 2023 was 49%.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 3,800 per sq.ft, placing Bharathidasan Street's 2024 figure below that median.

• BASKAR NAGAR (S.No.356/2): Rs 2,500 per sq.ft (2024)
• Balaji Nagar (Padi): Rs 4,400 per sq.ft (2024)
• Chengal Choolai Pallam (Padikuppam Road): Rs 5,400 per sq.ft (2024)
• Chennai Flats: Rs 6,600 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,800 per sq.ft (2024)
• Cholahil Nagar (Pillaiyar Koil Street): Rs 5,400 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 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, making the total cost Rs 3,06,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathidasan Street?

The Sub Registrar Office covering Bharathidasan Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bharathidasan Street?

The current guideline value of Bharathidasan Street is Rs 3,400 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 402 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, marking an overall increase of 746% over this period.

What is the land classification of Bharathidasan Street?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total cost of Rs 3,06,000 for these fees.

Where can I find the Sub Registrar Office for Bharathidasan Street?

The Sub Registrar Office for Bharathidasan Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.