Guideline Value for BHARATHIYAR STREET

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Perumbakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class I Type - II.

How the guideline value of Bharathiyar Street has changed

The guideline value for Bharathiyar Street has undergone several revisions over the years. The earliest revision available is from 2012, which set the value at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,200 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, there have been notable changes in the guideline value. From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The 2023 to 2024 revision saw a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,725 per sq.ft, indicating that Bharathiyar Street's 2024 figure is below this median.

• Bharathi Vidyalaya Palli: Rs 2,725 per sq.ft (2024)
• Bhavathara: Rs 1,300 per sq.ft (2024)
• Bollineni Hillside: Rs 2,725 per sq.ft (2024)
• Bank Colony: Rs 2,725 per sq.ft (2024)
• Casa Grande "cherry Pick": Rs 2,725 per sq.ft (2024)
• Casa Vogue: Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Street

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 charges 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Street?

The Sub Registrar Office covering Bharathiyar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perumbakkam. It serves as a basis for calculating the stamp duty and registration fees, which are mandatory for legal documentation. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration process.

When a property is bought or sold, the guideline value is compared with the sale price. The higher of the two figures is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registers.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value 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 increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Bharathiyar Street?

Bharathiyar Street is classified as Residential Class I Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.