Guideline Value for Barathiyar Street (Gandhi Salai)

Barathiyar Street (Gandhi Salai) guideline value

The current guideline value of Barathiyar Street (Gandhi Salai) is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Barathiyar Street (Gandhi Salai) has changed

The guideline value for Barathiyar Street has experienced several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 4,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 4,950 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Velachery

In Velachery village, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Barathiyar Street's 2024 figure above that median.

• Barathiyar Street: Rs 4,950 per sq.ft (2024)
• Barathi Street: Rs 4,950 per sq.ft (2024)
• Bashiyam colony: Rs 3,850 per sq.ft (2024)
• Barani Street (Udayam Nagar): Rs 3,850 per sq.ft (2024)
• Bashiyam colony 1st street: Rs 3,850 per sq.ft (2024)
• Barani Street (in Arumuga Nagar): Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Barathiyar Street (Gandhi Salai)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total fees to Rs 4,45,500. It is essential 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 Barathiyar Street (Gandhi Salai)?

The Sub Registrar Office that covers Barathiyar Street (Gandhi Salai) 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 Velachery

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is considered to ensure that the correct fees are applied. This value is particularly important as it helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Barathiyar Street (Gandhi Salai)?

The current guideline value of Barathiyar Street (Gandhi Salai) is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Barathiyar Street was Rs 4,500 per sq.ft in 2012 and remained the same until 2023. In 2024, it increased to Rs 4,950 per sq.ft, marking a 10% increase from the previous year.

What is the land classification for Barathiyar Street?

Barathiyar Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

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

The Sub Registrar Office for Barathiyar Street (Gandhi Salai) 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 Velachery?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 49,50,000 would incur a stamp duty of Rs 3,46,500 at a rate of 7%.