Guideline Value for BHARATHY STREET

Bharathy Street guideline value

The current guideline value of Bharathy Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Bharathy Street has changed

The guideline value for Bharathy Street has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 500 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a 300% rise. However, it decreased to Rs 1,340 per sq.ft in the 2017 revision, a drop of 33% from the previous figure. Following this, the value surged to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase.

As of the 2024 revision, the guideline value stands at Rs 2,200 per sq.ft, showing a 10% increase from the 2023 figure. The overall change from 2007 to 2024 is a substantial 340%, highlighting the fluctuations in the guideline value over the years. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Bharathy Street's 2024 figure above this median.

• B.P.Rajan Salai: Rs 2,800 per sq.ft (2024)
• Bhapertasher/Noordeen Garden: Rs 1,100 per sq.ft (2024)
• Beach Road: Rs 2,800 per sq.ft (2024)
• Chandra Thottam: Rs 1,200 per sq.ft (2024)
• Chella Durai Garden: Rs 1,100 per sq.ft (2024)
• Chengani Amman Koil East Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathy Street?

The Sub Registrar Office that covers Bharathy Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more details.

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

The guideline value plays a critical role during the registration of property transactions in Uthandi. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the market conditions.

Frequently asked questions

What is the current guideline value of Bharathy Street?

The current guideline value of Bharathy Street is Rs 2,200 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 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the land classification for Bharathy Street?

Bharathy Street is classified as Residential Class II Type - I under the Neelankarai SRO.

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

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

How is stamp duty calculated for properties on Bharathy 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 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.