Guideline Value for BHARATHY SALAI & STREET

Bharathy Salai & Street guideline value

The current guideline value of Bharathy Salai & Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bharathy Salai & Street has changed

The guideline value for Bharathy Salai & Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 171 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2007, followed by a remarkable rise to Rs 2,500 per sq.ft in 2012. However, in 2017, the value decreased to Rs 1,675 per sq.ft. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, and further to Rs 2,800 per sq.ft in 2024, marking a 12% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 1,537%. The register has no figure for this street in 2002.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing the 2024 figure for Bharathy Salai & Street above this median.

• Bharathy Avenue Cross Road: Rs 2,800 per sq.ft (2024)
• Bharathy Street Main Road: Rs 2,800 per sq.ft (2024)
• BHARATHY 4th CROSS STREET: Rs 2,800 per sq.ft (2024)
• BHARATHY 3rd CROSS STREET: Rs 2,800 per sq.ft (2024)
• BHARATHY 2nd CROSS STREET: Rs 2,800 per sq.ft (2024)
• BHARATHY 1st CROSS STREET: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathy Salai & Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to 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, bringing the total cost for these fees to 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathy Salai & Street?

The Sub Registrar Office that covers Bharathy Salai & 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 Enjambakkam

The guideline value plays a crucial role in the registration process of property transactions in Enjambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately in the official records.

Frequently asked questions

What is the current guideline value of Bharathy Salai & Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 1,537% over this period.

What is the land classification for Bharathy Salai & Street?

Bharathy Salai & Street is classified as Residential Class II Type - I.

What are the stamp duty rates for property transactions in this area?

The stamp duty rate for property transactions in this area is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

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