Guideline Value for Barathiar Street 3rd Street

Barathiar Street 3rd Street guideline value

The current guideline value of Barathiar Street 3rd 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 falls under the Residential Class II Type - I land classification.

How the guideline value of Barathiar Street 3rd Street has changed

The guideline value register for Barathiar Street 3rd Street shows no figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions are from 2023 and 2024, where the guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a change of +10%.

Prior to the 2023 revision, there are no figures available for this street in the register. The current guideline value of Rs 2,200 per sq.ft reflects the latest update as of July 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Barathiar Street 3rd Street's 2024 figure below that median.

• Barathiar Street: Rs 2,200 per sq.ft (2024)
• Barathiar Street 1st Street: Rs 2,200 per sq.ft (2024)
• Barathiar Street 2nd 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 3rd 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, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Barathiar Street 3rd Street?

The Sub Registrar Office that covers Barathiar Street 3rd 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 more details.

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

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the authorities use the guideline value to assess the amount of duty payable. Buyers should be aware that the duty is calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Barathiar Street 3rd Street?

The current guideline value of Barathiar Street 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

What is the land classification for Barathiar Street 3rd Street?

Barathiar Street 3rd Street falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for this area?

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

How is the stamp duty calculated for properties in Madipakkam-1?

Stamp duty is calculated based on the higher of the guideline value or the actual sale price of the property. For example, for a property with a guideline value of Rs 22,00,000, the stamp duty would be calculated accordingly.