Guideline Value for BHARATHIYAR STREET (ABITH COLONY)

Bharathiyar Street (Abith Colony) guideline value

The current guideline value of Bharathiyar Street (Abith Colony) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Bharathiyar Street (Abith Colony) has changed

The guideline value for Bharathiyar Street (Abith Colony) has undergone several revisions over the years. Starting from 2002, the value was Rs 647 per sq.ft. This increased to Rs 810 per sq.ft in 2003, marking a 25% rise. The value continued to grow significantly, reaching Rs 1,800 per sq.ft in 2007, which was an increase of 122%. The next revision in 2012 saw a decrease to Rs 4,000 per sq.ft, a drop of 33%. However, from 2012 to 2017, the value rose again to Rs 2,680 per sq.ft, reflecting a 122% increase. The subsequent revisions showed a substantial increase, with the value reaching Rs 4,000 per sq.ft in 2023 and then rising to Rs 4,400 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 580%. There are no figures available for any other revisions for this street.

Guideline values in Saidapet

In Saidapet village, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current value of Bharathiyar Street (Abith Colony).

• Bharathiyar Street (Hospital Road): Rs 4,400 per sq.ft (2024)
• B.K. Maistry Street: Rs 4,400 per sq.ft (2024)
• Brahmin Street: Rs 5,500 per sq.ft (2024)
• Central Exercise Colony: Rs 4,950 per sq.ft (2024)
• Bazaar Salai: Rs 8,800 per sq.ft (2024)
• Bazaar Road: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Street (Abith Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiyar Street (Abith Colony)?

Bharathiyar Street (Abith Colony) falls under the jurisdiction of the Chennai South Joint II 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 Saidapet

The guideline value plays a crucial role during the registration of property transactions in Saidapet. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on an official value rather than the sale price alone.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of property transactions. Understanding the guideline value helps in budgeting for the additional costs associated with property registration.

Frequently asked questions

What is the current guideline value of Bharathiyar Street (Abith Colony)?

The current guideline value of Bharathiyar Street (Abith Colony) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 647 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 580% over this period.

What are the other streets in Saidapet with similar guideline values?

Other streets in Saidapet with a guideline value of Rs 4,400 per sq.ft include Bharathiyar Street (Hospital Road) and B.K. Maistry Street.

What fees are associated with property transactions in Bharathiyar Street (Abith Colony)?

For a property valued at the current guideline value, the stamp duty is 7% and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

Where can I find the Sub Registrar Office for Bharathiyar Street (Abith Colony)?

The Sub Registrar Office covering Bharathiyar Street (Abith Colony) is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.