Guideline Value for Barathiar Street 4th Street

Barathiar Street 4th Street guideline value

The current guideline value of Barathiar Street 4th 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, classified as Residential Class II Type - I.

How the guideline value of Barathiar Street 4th Street has changed

The guideline value for Barathiar Street 4th Street has seen several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,000 per sq.ft, which increased to Rs 2,200 per sq.ft in the 2024 revision, marking a change of +10%.

With the current 2024 figure, Barathiar Street 4th Street is positioned below the median guideline value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1. The previous revision in 2023 reflects a lower value, demonstrating a notable increase in the current guideline value.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values for various streets range from Rs 1,650 to Rs 5,500 per sq.ft. The following are the guideline values for other streets in Madipakkam-1 under the Velacheri SRO:

• Barathiar Street 1st 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)
• Barathiar Street 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Barathiar Street 4th 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, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Barathiar Street 4th Street?

The Velacheri Sub Registrar Office covers Barathiar Street 4th Street. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Barathiar Street 4th Street?

The current guideline value of Barathiar Street 4th 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 for Barathiar Street 4th Street has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a +10% increase.

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

The guideline values for other streets in Madipakkam-1 range from Rs 1,650 to Rs 5,500 per sq.ft. Barathiar Street 1st, 2nd, 3rd, 5th, 6th, and 7th Streets all have a guideline value of Rs 2,200 per sq.ft in 2024.

What is the stamp duty rate for property in Barathiar Street 4th Street?

The stamp duty rate for property in Barathiar Street 4th Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

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