Guideline Value for BHARATHIYAR STREET

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Palavakkam village, under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Bharathiyar Street has changed

The guideline value for Bharathiyar Street has seen several revisions over the years. In 2002, the value was Rs 409 per sq.ft, which increased to Rs 457 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,000 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft. The trend reversed again in 2023, with the value rising to Rs 2,500 per sq.ft, and the latest revision in 2024 set it at Rs 2,800 per sq.ft.

Between the revisions, the most notable changes include a 12% increase from 2023 to 2024, and a 49% increase from 2017 to 2023. The overall change from 2002 to 2024 is a substantial 585% increase in the guideline value.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Bharathiyar Street's 2024 figure below the median.

• Bharathiyar 4th Street: Rs 2,800 per sq.ft (2024)
• Bharathiyar 3rd Street: Rs 2,800 per sq.ft (2024)
• Bharathiyar 2nd Street: Rs 2,800 per sq.ft (2024)
• Bharathiyar 1st Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar Road (Street): Rs 2,800 per sq.ft (2024)
• Bharathi Nagar 2nd Main Road: Rs 2,800 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bharathiyar Street?

The Sub Registrar Office that covers Bharathiyar Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when buying or selling property in Palavakkam. It is used to determine the stamp duty and registration fees payable during the registration process. Buyers and sellers should be aware that the guideline value serves as a benchmark for property transactions and is essential for legal documentation.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value of Bharathiyar Street changed over the years?

The guideline value has changed from Rs 409 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, with various revisions in between.

What is the land classification for Bharathiyar Street?

Bharathiyar Street falls under the Residential Class III Type - I land classification.

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

For a 1,000 sq.ft property, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000 based on the current guideline value.

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

The Sub Registrar Office covering Bharathiyar Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.