Guideline Value for BHARATHIYAR 3RD STREET

Bharathiyar 3rd Street guideline value

The current guideline value of Bharathiyar 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Bharathiyar 3rd Street has changed

The guideline value for Bharathiyar 3rd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 305 per sq.ft. It increased to Rs 409 per sq.ft in 2003, marking a 34% rise. The value further rose to Rs 1,000 per sq.ft in 2007, which was a significant increase of 144%. In 2012, the value was revised to Rs 2,500 per sq.ft, reflecting a decrease of 33% from the previous revision. The 2017 revision saw the guideline value rise again to Rs 1,675 per sq.ft, which was a 49% increase. The next revision in 2023 set the value at Rs 2,500 per sq.ft, and the most recent revision in 2024 has established the current guideline value at Rs 2,800 per sq.ft, representing a 12% increase.

There are no figures available for revisions other than those listed above for Bharathiyar 3rd Street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Bharathiyar 3rd Street's current value below that median.

• Bharathiyar 4th Street: Rs 2,800 per sq.ft (2024)
• Bharathiyar 2nd Street: Rs 2,800 per sq.ft (2024)
• Bharathiyar 1st Street: Rs 2,800 per sq.ft (2024)
• Bharathiyar Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar Road (Street): Rs 2,800 per sq.ft (2024)
• Bharathi Nagar 2nd Main Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Bharathiyar 3rd Street?

The Sub Registrar Office that covers Bharathiyar 3rd 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 more information.

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

The guideline value is a crucial factor in property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of properties in the area.

Frequently asked questions

What is the current guideline value of Bharathiyar 3rd Street?

The current guideline value of Bharathiyar 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 305 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, which is an overall increase of 818%.

What are the stamp duty and registration fees for property in Bharathiyar 3rd Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office is responsible for Bharathiyar 3rd Street?

The Neelankarai Sub Registrar Office is responsible for Bharathiyar 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Palavakkam?

The median guideline value in Palavakkam is Rs 3,300 per sq.ft, with Bharathiyar 3rd Street's current value being below this median.