Guideline Value for BHARATHIYAR SALAI

Bharathiyar Salai guideline value

The current guideline value of Bharathiyar Salai in Jelandianpettai village is Rs 2,200 per sq.ft, effective from the 2024 revision. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Bharathiyar Salai has changed

Over the years, the guideline value of Bharathiyar Salai has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision brought it back up to Rs 2,000 per sq.ft, and the latest 2024 revision has increased it to Rs 2,200 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2024 revision, the overall change has been an increase of 10%. Specifically, from 2023 to 2024, there was a 10% increase, while the jump from 2017 to 2023 was a significant 49% increase.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, with rates ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making Bharathiyar Salai's current value equal to this median.

• Bharathiyar Street: Rs 2,200 per sq.ft (2024)
• Bharathidasan Street: Rs 2,200 per sq.ft (2024)
• Bhagavathsingh Street: Rs 2,200 per sq.ft (2024)
• Casagrand Tranquil: Rs 4,300 per sq.ft (2024)
• Balavinayagar Koil Street: Rs 2,200 per sq.ft (2024)
• Cheran Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bharathiyar Salai?

The Sub Registrar Office that covers Bharathiyar Salai 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 Jelandianpettai

The guideline value is an essential factor in the registration process when buying or selling property in Jelandianpettai. It determines the minimum value at which the property can be registered, ensuring that the transaction reflects a fair value for tax purposes.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathiyar Salai?

The current guideline value of Bharathiyar Salai is Rs 2,200 per sq.ft, effective from the 2024 revision.

How has the guideline value of Bharathiyar Salai changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Bharathiyar Salai?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Bharathiyar Salai?

The Chennai South Joint I Sub Registrar Office covers Bharathiyar Salai, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Bharathiyar Salai?

Bharathiyar Salai is classified as Residential Class II Type - I, indicating its suitability for residential development.