Guideline Value for BHARATHIYAR STREET

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Jelandianpettai village is Rs 2,200 per sq.ft, as per the 2024 revision effective from 1 July 2024. 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 Street has changed

The guideline value for Bharathiyar Street has seen several revisions over the years. 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 value rose significantly to Rs 2,000 per sq.ft in the 2023 revision and further increased to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 to 2024 revisions, the guideline value has increased by 10%. Notably, there are no registered figures for Bharathiyar Street in the years 2002, 2003, and 2007.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which aligns with the current guideline value of Bharathiyar Street.

• Bharathiyar Salai: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, these charges total 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 Street?

The Sub Registrar Office that covers Bharathiyar Street 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

When buying or selling property in Jelandianpettai, the guideline value is a critical factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives the appropriate taxes based on this valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the financial aspects of property transactions. Ensuring compliance with these values helps in smooth processing at the registration office.

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 to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the median guideline value in Jelandianpettai?

The median guideline value in Jelandianpettai is Rs 2,200 per sq.ft, which is the same as the current value for Bharathiyar Street.

Where can I find the registration office for Bharathiyar Street?

The registration office for Bharathiyar Street 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.

How is stamp duty calculated for properties in Bharathiyar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.