Guideline Value for Barathi Street

Barathi Street guideline value

The current guideline value of Barathi Street in Velachery village is Rs 4,950 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Barathi Street has changed

The guideline value of Barathi Street has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 200% rise. The value remained unchanged at Rs 4,500 per sq.ft until the 2023 revision.

In 2023, the guideline value was revised to Rs 4,500 per sq.ft, and then increased by 10% to Rs 4,950 per sq.ft in 2024. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Barathi Street's 2024 figure above this median.

• Barathiyar Street: Rs 4,950 per sq.ft (2024)
• Barathiyar Street (Gandhi Salai): Rs 4,950 per sq.ft (2024)
• Barani Street (Udayam Nagar): Rs 3,850 per sq.ft (2024)
• Barani Street (in Arumuga Nagar): Rs 3,850 per sq.ft (2024)
• Bashiyam colony: Rs 3,850 per sq.ft (2024)
• Bashiyam colony 1st street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Barathi Street

For a 1,000 sq.ft plot at the current rate of Rs 4,950 per sq.ft, the guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. 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 Barathi Street?

The Sub Registrar Office that covers Barathi Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government collects appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Barathi Street?

The current guideline value of Barathi Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 230% over the years.

What are the other streets with similar guideline values in Velachery?

Other streets in Velachery include Barathiyar Street and Barathiyar Street (Gandhi Salai), both at Rs 4,950 per sq.ft, while Barani Street (Udayam Nagar) and Barani Street (in Arumuga Nagar) are at Rs 3,850 per sq.ft.

What is the stamp duty rate in Velachery?

The stamp duty rate in Velachery is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

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

The Sub Registrar Office for Barathi Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.