Guideline Value for BHARATHIYAR STREET

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Pallikaranai village is Rs 1,650 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 of Bharathiyar Street has seen several revisions over the years. In 2002, the guideline value was Rs 58 per sq.ft, which increased to Rs 69 per sq.ft in 2003. Following that, the value rose significantly to Rs 400 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017 before increasing again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,745%. The register has no figures for this street for the years not listed above.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value is Rs 1,650 per sq.ft, which matches the current guideline value for Bharathiyar Street.

• Bharathiyar Nagar / Extn: Rs 1,650 per sq.ft (2024)
• Bharathi Street / Nagar: Rs 1,980 per sq.ft (2024)
• Bhavani Amman Koil Street: Rs 8,580 per sq.ft (2024)
• Blue Moon Properties: Rs 3,690 per sq.ft (2024)
• Bharathidasan Street: Rs 1,650 per sq.ft (2024)
• Bharathidasan Angu Salai 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 rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiyar Street?

The Sub Registrar Office covering 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 Pallikaranai

The guideline value plays a crucial role in the registration process of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 58 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 2,745% over this period.

What is 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 property in Bharathiyar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.

What other streets have similar guideline values in Pallikaranai?

Other streets in Pallikaranai with similar guideline values include Bharathiyar Nagar / Extn and Bharathidasan Street, both at Rs 1,650 per sq.ft for 2024.