Guideline Value for Barathiar Street 1st Street

Barathiar Street 1st Street guideline value

The current guideline value of Barathiar Street 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Barathiar Street 1st Street has changed

In the 2023 revision, the guideline value was Rs 2,000 per sq.ft. The latest 2024 revision has increased this amount to Rs 2,200 per sq.ft, marking a change of +10%. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions with figures are from 2023 and 2024, showing a clear upward change. The absence of figures in earlier years indicates that the guideline value was not recorded for Barathiar Street 1st Street during those revisions.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, positioning Barathiar Street 1st Street's 2024 figure below this median.

• Barathiar Street: Rs 2,200 per sq.ft (2024)
• Barathiar Street 2nd Street: Rs 2,200 per sq.ft (2024)
• Barathiar Street 3rd Street: Rs 2,200 per sq.ft (2024)
• Barathiar Street 4th Street: Rs 2,200 per sq.ft (2024)
• Barathiar Street 5th Street: Rs 2,200 per sq.ft (2024)
• Barathiar Street 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Barathiar Street 1st 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 is calculated at 7%, which is Rs 1,54,000, and the registration fee is 2%, amounting to Rs 44,000. Together, the total charges would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Barathiar Street 1st Street?

The Sub Registrar Office covering Barathiar Street 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When purchasing or selling property, the guideline value helps determine the minimum value at which the property can be registered. This process ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Barathiar Street 1st Street?

The current guideline value of Barathiar Street 1st 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 was Rs 2,000 per sq.ft in 2023 and increased to Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 have a guideline value of Rs 2,200 per sq.ft in 2024. This includes Barathiar Street, Barathiar Street 2nd Street, Barathiar Street 3rd Street, Barathiar Street 4th Street, Barathiar Street 5th Street, and Barathiar Street 6th Street.

How is stamp duty calculated for properties in Barathiar Street 1st Street?

Stamp duty for properties in Barathiar Street 1st Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the stamp duty would be Rs 1,54,000.

Where can I find the Sub Registrar Office for Barathiar Street 1st Street?

The Sub Registrar Office for Barathiar Street 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.