Guideline Value for Barathiar Street

Barathiar Street guideline value

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

How the guideline value of Barathiar Street has changed

The guideline value for Barathiar Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2023 revision figure of Rs 2,000 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline value has increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The history of revisions shows that there were no recorded values for the earlier years mentioned, making the 2023 and 2024 figures the only available data for Barathiar Street.

Guideline values in Madipakkam-1

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

• 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)

Stamp duty and registration fee for property in Barathiar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees 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 information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Barathiar Street?

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

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

The guideline value is a crucial factor in property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value of a property during registration. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

Buyers and sellers must be aware that the guideline value can influence the overall cost of property transactions. It is essential to consult the latest guideline values to ensure compliance with registration requirements and to accurately assess the financial implications of buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Barathiar Street?

The current guideline value of Barathiar 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 increased from Rs 2,000 per sq.ft in 2023 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 is the land classification for Barathiar Street?

Barathiar Street is classified under Residential Class II Type - I land classification. This classification impacts the guideline value and property usage.

How is stamp duty calculated for properties on Barathiar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.

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

The Velacheri Sub Registrar Office covers Barathiar Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find more information through the provided link.