Guideline Value for BHARATHIYAR STREET

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Kolathuvancheri village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Bharathiyar Street has changed

The guideline value for Bharathiyar Street has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase from the previous year. The overall change from 2012 to 2024 is an increase of 10%.

Notably, there are no recorded figures for Bharathiyar Street in the years 2002, 2003, and 2007. The 2023 to 2024 revision shows a 10% increase, while the 2017 to 2023 period experienced a substantial increase of 49%. The revision from 2012 to 2017 saw a decrease of 33%.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft, with a median value of Rs 1,650 per sq.ft. Bharathiyar Street's 2024 figure is below this median.

• Bharani Puttur Main Road: Rs 1,650 per sq.ft (2024)
• Balasundara Nagar: Rs 1,650 per sq.ft (2024)
• Bala Murugan Nagar: Rs 3,410 per sq.ft (2024)
• Chinnakolathuvancheri Pillaiyar Koil Street: Rs 990 per sq.ft (2024)
• Balaji Nagar Main Road: Rs 1,320 per sq.ft (2024)
• Balaji Nagar /Extn: Rs 1,650 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 1,320 per sq.ft, the guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Street?

Bharathiyar Street is covered by 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 Kolathuvancheri

The guideline value is a crucial factor when registering property in Kolathuvancheri. It determines the minimum price at which a property can be registered and is used to calculate the stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers should be aware that the guideline value may differ from the actual market price.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Bharathiyar Street?

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

What are the stamp duty and registration fees for properties on Bharathiyar Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where can I find the Sub Registrar Office for Bharathiyar Street?

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