Guideline Value for BHARATHIYAR 4TH STREET

Bharathiyar 4th Street guideline value

The current guideline value of Bharathiyar 4th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Bharathiyar 4th Street has changed

The guideline value for Bharathiyar 4th Street has seen significant changes over the years. In 2002, the value was Rs 305 per sq.ft, which increased to Rs 409 per sq.ft in 2003, representing a 34% rise. The value continued to climb, reaching Rs 1,000 per sq.ft in 2007, a substantial increase of 144%. By 2012, the value was Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision. The guideline value then rose to Rs 1,675 per sq.ft in 2017, marking a 49% increase. The value further increased to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

There are no figures available for the revisions in the years not listed. Overall, from 2002 to 2024, the guideline value has risen by 818%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing Bharathiyar 4th Street's 2024 value below this median.

• Bharathiyar 3rd 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be 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, making the total cost for these fees Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator to estimate your fees based on different values.

Which Sub Registrar Office covers Bharathiyar 4th Street?

The Sub Registrar Office that covers Bharathiyar 4th 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 plays a crucial role in property transactions in Palavakkam. It is used to determine the stamp duty and registration fees that are applicable during the sale or purchase of a property. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations and to understand the financial implications of their transaction.

When a property is registered, the guideline value is considered to protect both the buyer and the seller. It serves as a benchmark for the minimum value at which a property can be sold, ensuring that the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of Bharathiyar 4th Street?

The current guideline value of Bharathiyar 4th Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, 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 is the land classification for Bharathiyar 4th Street?

Bharathiyar 4th Street falls under the Residential Class III Type - I land classification.

Where can I find the Neelankarai Sub Registrar Office?

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

How is the stamp duty calculated for properties in Bharathiyar 4th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current rate would incur a total stamp duty of Rs 1,96,000.