Guideline Value for Barathiyar Street

Barathiyar Street guideline value

The current guideline value of Barathiyar Street in Velachery village, under the Velacheri SRO, is Rs 4,950 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 Barathiyar Street has changed

In the 2012 revision, the guideline value for Barathiyar Street was Rs 4,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 4,950 per sq.ft, reflecting a 10% increase from the previous year.

The register does not contain figures for the revisions in 2002, 2003, 2007, and 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

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

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

Stamp duty and registration fee for property in Barathiyar Street

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 cost together to Rs 4,45,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Barathiyar Street?

The Sub Registrar Office that covers Barathiyar 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 additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values will be used to calculate the applicable stamp duty, ensuring that the transaction adheres to the regulatory framework set by the government.

Frequently asked questions

What is the current guideline value of Barathiyar Street?

The current guideline value of Barathiyar Street 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 in 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 of Barathiyar Street?

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

What are the stamp duty and registration fees for property in Barathiyar Street?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Where is the Sub Registrar Office for Barathiyar Street located?

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