Guideline Value for Barathiyar Nagar

Barathiyar Nagar guideline value

The current guideline value of Barathiyar Nagar, located in Ayappakkam village under the Ambattur SRO, is Rs 1,300 per sq.ft. This value is effective from 1 July 2024 and falls under Residential Class I Type - I land classification.

How the guideline value of Barathiyar Nagar has changed

The guideline value of Barathiyar Nagar has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 70 per sq.ft. This increased to Rs 400 per sq.ft in 2007, marking a significant rise of 471%. The value then saw a substantial jump to Rs 1,200 per sq.ft in 2012, which represented a 200% increase. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, a decline of 33%. The next revision in 2023 set the value at Rs 1,200 per sq.ft, followed by the current figure of Rs 1,300 per sq.ft from 2024, reflecting an increase of 8%.

Overall, the guideline value has increased dramatically from Rs 70 per sq.ft in 2003 to Rs 1,300 per sq.ft in 2024, which is an increase of 1757%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, which is equal to the current guideline value of Barathiyar Nagar.

• Balan Street(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balammal Street(bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balammal 2nd Cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balammal 1st Cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Balaji Street (Rajammal nagar): Rs 1,300 per sq.ft (2024)
• Bharathi street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Barathiyar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total fees together Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Barathiyar Nagar?

The Sub Registrar Office that covers Barathiyar Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ayappakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value can influence the payment of stamp duty and registration fees, which are calculated based on this value.

When a property transaction occurs, the guideline value ensures that the property is registered at a value that reflects the prevailing rates in the area. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue through stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Barathiyar Nagar?

The current guideline value of Barathiyar Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 70 per sq.ft in 2003 to Rs 1,300 per sq.ft in 2024, representing a total increase of 1757% over the years.

What are the stamp duty rates for property in Barathiyar Nagar?

The stamp duty for property in Barathiyar Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Barathiyar Nagar located?

The Sub Registrar Office for Barathiyar Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

What is the land classification for Barathiyar Nagar?

Barathiyar Nagar falls under the Residential Class I Type - I land classification, indicating its suitability for residential development.