Guideline Value for BHARATHIYAR STREET

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street, located in Perungudi village under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Bharathiyar Street has changed

Since the 2002 revision, the guideline value for Bharathiyar Street has seen significant changes. In 2002, the guideline value was Rs 250 per sq.ft. This figure increased to Rs 650 per sq.ft in 2003, marking a 160% rise. The value further rose to Rs 800 per sq.ft in 2007, reflecting a 23% increase. In 2012, the value was Rs 3,000 per sq.ft, which represented a substantial 275% increase from the previous revision. However, in 2017, it dropped to Rs 2,010 per sq.ft, showing a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1220%. There are no figures available for the revisions in the years not listed above.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the current guideline value for Bharathiyar Street.

• Bharathy Avenue: Rs 2,800 per sq.ft (2024)
• Bharathidasan Street: Rs 2,800 per sq.ft (2024)
• Bound Salai: Rs 2,200 per sq.ft (2024)
• Cheran Chenkuttuvan Street: Rs 3,300 per sq.ft (2024)
• Church Street & Road: Rs 6,100 per sq.ft (2024)
• Balagangatharar Thilakar 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perungudi. It serves as a benchmark for calculating the stamp duty and registration fees that buyers need to pay when acquiring property. This value ensures that the government receives appropriate taxes based on the property's worth.

When selling property, the guideline value is also essential as it helps in determining the minimum price at which a property can be sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 1220%.

What is the registration office for Bharathiyar Street?

The registration office for 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.

How is stamp duty calculated for properties in Bharathiyar Street?

Stamp duty for properties in Bharathiyar Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,31,000 at the current guideline value.

What are the other streets nearby with their guideline values?

Other streets in Perungudi include Bharathy Avenue and Bharathidasan Street, both at Rs 2,800 per sq.ft, and Cheran Chenkuttuvan Street at Rs 3,300 per sq.ft.