Guideline Value for BHARATHIYAR STREET

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Thundalam 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 - II.

How the guideline value of Bharathiyar Street has changed

Over the years, the guideline value of Bharathiyar Street has undergone several revisions. In 2012, the guideline value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 set the guideline value at Rs 1,650 per sq.ft, representing a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thundalam

In Thundalam, there are 97 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, indicating that Bharathiyar Street's 2024 figure is below this median.

• Balaji Nagar Thiruvalluvar Street: Rs 2,750 per sq.ft (2024)
• Balaji Nagar Thilagar Street: Rs 2,750 per sq.ft (2024)
• Balaji Nagar Radha Krishnan Salai: Rs 2,750 per sq.ft (2024)
• Balaji Nagar Bharathiyar Street: Rs 2,750 per sq.ft (2024)
• Balaji Nagar: Rs 2,750 per sq.ft (2024)
• Dhanalakshmi Avenue: 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be 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 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?

The 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 Thundalam

When buying or selling property in Thundalam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used to calculate these costs, ensuring that both parties are aware of the financial obligations involved in the transaction.

Additionally, the guideline value serves as a reference point for property transactions, helping to establish a fair basis for pricing. It is essential for buyers and sellers to be informed about the current guideline value to facilitate a smooth registration process.

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 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Bharathiyar Street?

Bharathiyar Street is classified as Residential Class IV Type - II under the Chennai South Joint I SRO.

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.

How is 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 property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.